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Nairaland Forum / Nairaland / General / Politics / CBN May Blacklist Banks Used For Money Laundering – Official (834 Views)
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CBN May Blacklist Banks Used For Money Laundering – Official by shaddoww: 7:38pm On Dec 01, 2015 |
The Deputy Governor of the Central Bank of
Nigeria in charge of Financial System
Surveillance (FSS), Mr. Okechukwu Joseph
Nnanna, on Tuesday said the apex bank may
blacklist banks used for money laundering.
He also said management and directors of
such banks will be in trouble.
The CBN official also said he cannot say
exactly how much of looted funds had been
recovered and deposited in CBN.
Nnanna, who spoke with journalists in Abuja
on the sideline of a workshop organised by
the Inter-Governmental Action Group Against
Money Laundering in West Africa (GIABA),
said it will no longer be business as usual.
He said: Any bank which we discover has
been used, or manipulated by criminals who
launder money, corrupt politicians who
launder money, that bank and directors would
be held accountable.
“Not only paying fines, we can also ask them
to be blacklisted and will never work in the
financial system any more. That is a very
severe punishment.
“People who finance terrorists come in
different guises, they may be genuine
businessmen who after a while may turn to
be criminals but what is important is for the
banks to make sure that the customer who
comes to deposit money and withdraw
money, they must know who he is. Not only
knowing who he is, they must know his or her
business.”
Asked what CBN is doing to check money
laundering, the deputy governor said the apex
bank has put in place many control
mechanisms.
He added: “At the CBN, we are doing a great
deal. The bank has in fact put in place a
regime of controls particularly for commercial
banks. Know Your Customers (KYC) is a very
serious affair with us.
“You don’t go to the bank and open an
account and go and lodge in N5 million, N10
million without you being reported to the NFIU
and to the EFCC. You will be reported to
explain the source of that money.
“We are not saying that Nigerians are all
criminals. If you are a genuine businessman
and you lodge in N1 billion there is nothing
wrong with that but if you have N5,000 and
all of a sudden, you brought N10 million, we
would like to know.
“The CBN in collaboration with the National
Financial Intelligence Unit (NFIU) would like
to know the source of that money and that
we are doing very religiously.” |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by wachakuta(m): 7:38pm On Dec 01, 2015 |
May?? Na today.... |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by Fmartin(m): 7:42pm On Dec 01, 2015 |
Hmmm...... That will be good if any bank is discovered |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by GudluckIBB(m): 7:49pm On Dec 01, 2015 |
Stealing is now corruption!!! 1 Like 1 Share |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by baralatie(m): 7:50pm On Dec 01, 2015 |
Really |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by MISSNORA(f): 8:17pm On Dec 01, 2015 |
Story |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by Adesiji77: 8:36pm On Dec 01, 2015 |
Emphasis on the word "may" |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by utytill(m): 8:58pm On Dec 01, 2015 |
Nonsense,no bank will escape this one. |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by uboma(m): 9:29pm On Dec 01, 2015 |
The CBN should go ahead to blacklist banks found to have been involved in money laundering. Banks these days are only interested in getting deposits no matter the volume. No one cares to know the source of such funds. No proper KYC is done. Before going ahead to blacklist these banks, the CBN should put plans in place to ensure that depositors funds are paid to the rightful owners. Sanity should be restored in the banking industry. |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by uboma(m): 9:36pm On Dec 01, 2015 |
Adesiji77: Yes, the word "may" was highly stressed but I only wish that the affected banks will be blacklisted. It will go a long way to reduce the tag Nigeria has as a corrupt Nation. |
Re: CBN May Blacklist Banks Used For Money Laundering – Official by Adesiji77: 6:52pm On Dec 02, 2015 |
@shaddoww Source? |
(1) (Reply)
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