macrodata:
Not everyone wants the government snooping on their affairs and finding ways to milk you of your hard earned money.
The job of the EFCC is to investigate financial crimes, not dictating to Financial institutions on how to manage their affairs. The CBN is in the best position to direct the banks on how to collect customer data, not the EFCC.

I'm not a fraudster, to further answer your question. I'm self employed, how do I explain to banks and EFCC that I buy and sell crypto for a living? How do I explain I've made a fortune with shit coins trading? This move by EFCC is to ensure that Nigerians only make money working 9-5. Totally unacceptable.

Ok

GhettoBwoy:
Client wey suppose pay today don go get accident day before yesterday

Pray make e heal.. e go still pay. No fear

expertman:
Good this is the right decision ooo jare.

Imagine kids in primary school opening. A bank account .

I have come accrossed many high school students in banks

Proper investigation ought To be done before opening a bank account.

Banks like Access and FCMB ought to be sanctions and any bank giving out online account opening without bvn ought to be totally locked

Local champion!
I can see this country has turned ur brain upside down.
O boy just try and get out of d shithole u called a country. Try and explore so u can see what's going one in d other part if d world.
Just an advise though

peculiar2233:

Local champion!
I can see this country has turned ur brain upside down.
O boy just try and get out of d shithole u called a country. Try and explore so u can see what's going one in d other part if d world.
Just an advise though

Ok sir but right now I do not have the budget to travel sir kindly help me out sir

Ruben225571:

https://m.guardian.ng/news/efcc-urges-banks-to-query-customers-sources-of-income/

Who is the statutory supervisor of the banking industry, the CBN or the EFCC? Nigerian security outfits don't always know their limits and limitations.

So if I win my 50million this weekend on bet9ja them go dey query me abi.

Nonsense!

Imagine this EFCC chairman calling himself youth saying this shit from mouth...


Awon weyrey gbogbo

Smh

1billi:
Lolzz..always 10 step backward, who still dey use bank these days when boys don go d btc way. Ozwor government

You go spend BTC for ShopRite or Polo Avenue?

@ topic, KYC is a necessary part of banking. Banks ought to know the source of income of their customers. It is regular practice worthwhile. There are other things to criticize the EFCC for, not this.

Fantazy:
So if I win my 50million this weekend on bet9ja them go dey query me abi.

Nonsense!

Why do you people just comment nonsense?

If bet9ja credits your account with huge sum of money, of course, the bank will ask for the source and you simply point to bet9ja. Only fraudsters and criminals would be bothered by this news.

There is no bank in the world that would allow you have huge amount of funds in your account without trying to find out what you do for a living.

Remag666:
Efcc hope you guys know you have expiry date just like sars and with all this gra gra una dey do e be like say we go move that date come front

No they don't have an expiry date.

Go and check why the EFCC was established.

Nigeria will be immediately removed from the world's financial system if EFCC no longer exists. Many countries were blacklisting Nigerian banks from their financial systems, many of the smaller banks had already been removed from SWIFT. One of the requirements for integration when Obasanjo came in was to establish EFCC and ICPC as well as an NFIU.

People would not be so hot and bothered about this if they were not involved in fraud. Go to America and open a bank account and get 250,000 USD in, then tell the bank they should not perform enhanced due diligence

OlujobaSamuel:
It is not bank business if you open account with a stolen fund, what matters to the bank is to verify the submitted residential address, ask for job status in the KYC form and report a case of any suspicious transaction.

Actually, it's the bank's business.

HSBC was fined hundreds of millions of dollars some years back for accepting money made from drug sales by the Sinaloa cartel. When your bank account gets to a certain level, by Nigerian financial rules, the bank is supposed to perform what's called ENHANCED DUE DILIGENCE (EDD) where they verify your source of funds and what you do for a living. KYC is just the basics. In the course of the bank's relationship with you, they are supposed to know more than this basic KYC.

benqo01:
Lol any bank that try this shit will go broke infact even lose customers,they should better not follow this directive cos at the end they be the on to lose Nd not EFCC

They will but only after you receive huge funds in the account. By then the account will be blocked until you provide useful information about your sources of funds.

Mbaku:

Pray make e heal.. e go still pay. No fear

Thanks bro

einsteine:


Actually, it's the bank's business.

HSBC was fined hundreds of millions of dollars some years back for accepting money made from drug sales by the Sinaloa cartel. When your bank account gets to a certain level, by Nigerian financial rules, the bank is supposed to perform what's called ENHANCED DUE DILIGENCE (EDD) where they verify your source of funds and what you do for a living. KYC is just the basics. In the course of the bank's relationship with you, they are supposed to know more than this basic KYC.

HSBC was fined for not reporting a suspicious transaction, not for accepting accepting a suspicious deposit.
The speaker (EFCC) is speaking as if he expects bank to turn down depositors from bringing in fund just because it's suspicious, EFCC can only drag a bank that do not report suspicious transaction as covered by the Money Laundering Act and other banking regulations. It's just like reporting a crime and you are arrested for not stopping the crime.

The ones you know embezzling the people's fund, what have you done?

Well before opening a bank account will make sense small....so that they can get some people's real details...the way people are faking addresses these days ...i did tell u...bank cant even trace anybody via house address properly ...if you like trust BVN its rubbish

but still on still I no de open any bank acc again the ones I get don do me

ok

i hear

I understand the banking procedures but you and I know what they meant by that statement, na ozwor government be this na bro

einsteine:


You go spend BTC for ShopRite or Polo Avenue?

@ topic, KYC is a necessary part of banking. Banks ought to know the source of income of their customers. It is regular practice worthwhile. There are other things to criticize the EFCC for, not this.

Ensure you question their source of poverty as well

AntiWailer:
Banks do that already.

Either ignorance or all these stunts to be in the news is what I don't understand.

You fill your occupation and employment details.

When you do a suspicious cash deposit they send details to NFIU.

When you are in the category of Politically Exposed Person or Person of Interest, they report u.

Banks do KYC. They contract people to go and check where you stay.

NFIU... Well said.

einsteine:


No they don't have an expiry date.

Go and check why the EFCC was established.

Nigeria will be immediately removed from the world's financial system if EFCC no longer exists. Many countries were blacklisting Nigerian banks from their financial systems, many of the smaller banks had already been removed from SWIFT. One of the requirements for integration when Obasanjo came in was to establish EFCC and ICPC as well as an NFIU.

People would not be so hot and bothered about this if they were not involved in fraud. Go to America and open a bank account and get 250,000 USD in, then tell the bank they should not perform enhanced due diligence

Word!

Glad you properly schooled
that fellow and his ilk who are
fretting over simple banking
due diligence.

macrodata:
EFCC is towing the wrong path. They should ask SARS how it ended for them.

Not everyone wants the government snooping on their affairs and finding ways to milk you of your hard earned money.
The job of the EFCC is to investigate financial crimes, not dictating to Financial institutions on how to manage their affairs. The CBN is in the best position to direct the banks on how to collect customer data, not the EFCC.

I'm not a fraudster, to further answer your question. I'm self employed, how do I explain to banks and EFCC that I buy and sell crypto for a living? How do I explain I've made a fortune with shit coins trading? This move by EFCC is to ensure that Nigerians only make money by working 5am-10pm, waking up to join traffic & joining traffic to go home & prepare for work next day. Totally unacceptable.

School him...

Like I know they going hate me for being real, but I know they going love me for making it through.....

Listening to GOE 1988 on repeat.....