ICPC calls on CIBN to train judges on illicit financial flows

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye (SAN), has called on the Chartered Institute of Bankers of Nigeria (CIBN), to as a matter of urgency, incorporate training on understanding Illicit Financial Flows (IFFs) and money laundering in its training programme for the National Judicial Institute (NJI).

He made this call while playing host to the officials of CIBN who were at the commission’s headquarters on a courtesy visit.

A statement authorized by the commission’s spokesperson, Mrs Azuka Agugua, and made available to newsmen in Abuja, quoted the chairman as saying that the commission had a similar collaboration with the NJI for regular sessions on the technicalities of IFFS.

These, according to him, are perpetrated through tax evasion, transfer pricing, trade mis-invoicing, over-invoicing and under-invoicing among others.

Professor Owasanoye assured the CIBN of the commission’s readiness to collaborate with the institute, saying ICPC would be delighted to have some of its staff, especially investigators benefit from training programmes organised by CIBN on Banking and Finance.

Earlier, CIBN President, Dr Bayo Olugbemi, said that the purpose of the visit was to explore possible areas of collaboration with the commission regarding the banking industry saddled with the responsibility of training and certifying bankers in Nigeria, and ensuring ethical behaviour and professionalism in the industry.

Dr Olugbemi solicited the support of ICPC for the proposed amendment of the CIBN Act of 2007, to enhance the power of the disciplinary tribunal to discipline erring bankers, among others.

He said the institute would be willing to collaborate with the commission in training staff on banking and finance and allied matters, in the same manner, it does for judges.

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