- ICPC has partnered with banks to tackle illegal financial activities in Borno
- The commission urged bankers to report suspicious transactions promptly
- Officials said stronger controls will help prevent corruption and fraud
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has strengthened its partnership with banks in Borno State as part of efforts to detect suspicious financial activities and tackle money laundering.
Eko Hot Blog gathered that the ICPC Resident Anti-Corruption Commissioner for Borno and Yobe states, Linus Gubbi, disclosed this on Tuesday after a sensitisation session with representatives of financial institutions in Maiduguri.
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Gubbi explained that the collaboration was aimed at creating stronger channels for identifying and preventing financial crimes, noting that banks play a major role in protecting the integrity of the financial system.
He said financial institutions, although not law enforcement bodies, serve as key checkpoints in preventing corruption because effective monitoring systems can make illegal transactions more difficult to carry out and easier to uncover.
“Our focus is to promote compliance with anti-corruption laws, encourage adherence to ethical banking practices, strengthen reporting obligations and improve cooperation between the ICPC and financial institutions,” Gubbi said.
He listed several methods used to perpetrate financial corruption, including diversion of government funds, fraudulent procurement activities, use of intermediaries to conceal ownership and the movement of illegal proceeds through legitimate banking channels.
The ICPC official noted that Borno’s security, reconstruction and humanitarian activities create significant financial transactions, which require stronger oversight to prevent abuse.
He urged bankers across the state to remain vigilant and promptly report unusual or suspicious transactions to the relevant authorities, stressing that early detection is crucial in combating corruption.
“Banks must continue to comply with regulations on suspicious transactions and ensure that necessary reports are made to the appropriate agencies,” he added.
Speaking earlier at the event, the Northeast Regional Manager of Eco Bank, Babagana Kyari, praised the ICPC initiative, describing the engagement as an important reminder of the responsibilities of financial sector workers.
Kyari said the training provided valuable insight into the role of bankers in promoting transparency and supporting efforts to reduce corruption in society.
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