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CBN, EFCC strengthen ties against economic crimes

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Officials of the Central Bank of Nigeria (CBN) and their counterparts in the Economic and Financial Crimes Commission (EFCC) met on Thursday to strengthen the fight against economic crimes.

CBN’s Director of Communications, Isaac Okorafor, said in a statement that the meeting, which held at the bank headquarters in Abuja provided an opportunity for the two entities to share experiences and peculiar challenges in the fight against economic-related crimes.

He explained that the two agencies adopted strategies aimed at curtailing the unwholesome activities of economic saboteurs which include smuggling of commodities like rice, textile materials, fertiliser, wheat and other items on the prohibition list for accessing foreign exchange through the official window, as well as tracking illicit financial flows.

ALSO READ: EFCC decries looters’ new tactics to escape justice

Other areas which the two agencies are collaborating include anti-money laundry and the monitoring of politically exposed persons in the country.

The inter-agency meeting, chaired by the Director, Governors’ Department of the CBN, Mr Jeremiah Abue, also agreed to improve the level of information-sharing and surveillance of the financial sector.

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