The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has called on bank branch managers in Borno State to strengthen their role in combating corruption, money laundering and the diversion of public funds by ensuring strict compliance with regulatory requirements and promptly reporting suspicious financial transactions.
The charge was given during a stakeholders’ engagement held at the ICPC Borno State Office in Maiduguri, where the Resident Anti-Corruption Commissioner (RACC), senior officials of the Commission and branch managers of various financial institutions operating in the state met to deepen collaboration in the fight against financial crimes.
Speaking at the opening of the engagement, the Resident Anti-Corruption Commissioner described financial institutions as the first line of defence against corrupt financial flows and other illicit transactions, stressing that banks occupy a strategic position in safeguarding Nigeria’s financial integrity.
The Commissioner urged the bank managers to strengthen due diligence processes, promptly report suspicious transactions and uphold the highest standards of transparency and accountability, noting that compliance should be seen as a patriotic responsibility that reinforces public trust and institutional integrity.
He emphasised that effective collaboration between financial institutions and anti-corruption agencies remains critical to protecting public resources and strengthening the country’s anti-corruption framework.
Responding on behalf of the participating bank managers, the Compliance Manager of Union Bank, Mr. Ali Ali-Biu, commended the ICPC for organising the engagement, describing it as timely and insightful.
He reaffirmed the commitment of the banking sector to supporting the Commission’s anti-corruption efforts through strict compliance with regulatory obligations and the prompt provision of credible intelligence to facilitate investigations.
During a presentation at the engagement, Mr. Dzikwi outlined the statutory responsibilities of financial institutions in detecting and reporting suspicious financial activities. He also explained the legal consequences of non-compliance, highlighted available reporting channels to the ICPC and identified common indicators of corrupt financial practices, including unusual cash lodgements, attempts to circumvent reporting thresholds and the structuring of transactions to conceal illicit activities.
He stressed the need for robust internal control mechanisms to prevent financial crimes and safeguard the integrity of the banking system.
The engagement also featured an interactive session during which participants sought clarification on reporting procedures, whistleblower protection and avenues for strengthening collaboration between the banking sector and the Commission in the investigation of corruption-related offences.
Delivering the vote of thanks, the Second-in-Command of the ICPC Borno State Office, Assistant Director Samuel David Damdakalak, reaffirmed the Commission’s commitment to promoting integrity and accountability within Nigeria’s financial sector.
He urged bank managers to institutionalise ethical practices within their organisations and sustain close collaboration with the Commission in advancing the nation’s anti-corruption efforts.
