Commercial banks on the know, accomplices in illicit funds transfer—Osinbajo
Photo Caption:
Acting President, Prof. Yemi Osinbajo, (right); Justice Minister, Abubakar Malami; Chairman, Presidential Advisory Committee Against Corruption (PACAC), Prof Itse Sagay and Minister of Foreign Affairs, Geoffrey Onyeama, at the conference on promoting international co-operation in combating illicit financial flows and enhancing asset recovery to foster sustainable development at the State House on June 5, 2017.
Brief News:
Acting President, Prof Yemi Osinbajo has revealed that commercial banks are on the know of every illicit flow of funds and hinted that time has come for sanctions against banks and financial institutions involved in encouraging looting and stealing of government resources.
Speaking on Monday at the conference on promoting international cooperation in combating illicit financial flows and enhancing asset recovery, organized by the Presidential Advisory Committee Against Corruption (PACAC), in collaboration with the Ministry of Justice, he averred that “it is not possible for illicit transfer of assets to be successfully effected without the connivance of both local and destination financial institutions”.
“There is no way it will happen without some form of connivance,” Osinbajo observed.
