By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Set to Punish Banks Helping Corrupt Politicians to Launder Money.
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Set to Punish Banks Helping Corrupt Politicians to Launder Money.

Farouk Mohammed
By Farouk Mohammed
Published: December 1, 2015
Share
2 Min Read
SHARE

CBN

The Central Bank of Nigeria has vowed to deal decisively with any bank that colludes with corrupt government officials and other individuals to engage in money laundering.

This was disclosed on Tuesday by the Deputy Governor of CBN in charge of Financial System Surveillance, Mr. Okechukwu Joseph Nnanna, at a workshop organised by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).

At the workshop which focused on “Risk Assessment on Money Laundering and Terrorism Financing”, Nnanna said:

- Advertisement -

“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.”

In the same vein, the ECOWAS Director General of GIABA, Mr. Adama Coulibaly, who was also at the event, decried the apparent increase in money laundering activities which contributes to financing terrorism.

- Advertisement -

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:BanksCBNPoliticians
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article PHOTOS: Pro-Biafra Supporter Buried With Biafran Flag In Abia State.
Next Article Ex Sokoto Governor Attahiru Bafarawa Arrested by EFCC.

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?