Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says a number of Nigerian banks are on the brink of collapse due to huge debts owed by “unscrupulous customers”. Magu spoke on Thursday at an interactive session with the Association of Chief Compliance Officers of Banks in Nigeria. In a statement released by Wilson Uwujaren, EFCC spokesman, Magu said the chief compliance officers of various banks should provide the commission with information on customers who perpetrate financial crimes. “We must work together to save this country. Most of the banks are sitting on the water. In fact, some of these banks are almost collapsing,” the statement quoted Magu to have said. “I know there are questions you can’t ask, particularly if it involves some individuals, but if you give us information on such people, we will move in. If there are fundamental issues that can affect your banks, you can give us the information, especially as another election season approaches. “I don’t want to be charging banks alongside suspected criminals because doing so can wreak havoc on the economy. It will even discourage investors from coming to the country.” Speaking further, the EFCC boss said regardless of size, any bank could become “distressed” if they do not stand for transparency, accountability and practice diligence. “There must be due diligence, even in this practice of private banking. There must be accountability; there must be transparency in our transactions. You don’t have to wait until anything goes awry before you begin to find a solution to it,” Magu continued. “We are ready to assist the banks in recovering their debts, but compliance officers must ensure due diligence, especially when giving out loans to customers. “Every bank is capable of going distressed, no matter its size. That is why we are battling to see that you stay afloat.”]]>

_______________________________________________________________________ Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion. Ohio Books Ltd praises the publication, stating: "....this is the only Nigerian book I know of on the topic." How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌎 Website: www.benadigwe.com Ebook Version: Access it directly online at https://selar.com/prv626 Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria. _______________________________________________________________________

“Order Justice Omolaye-Ajileye’s Electronic Evidence Books Now” — Essential Guides On Evidence Act, Case Law And Digital Proof

Two leading books on electronic evidence by Hon. Justice Professor Alaba Omolaye-Ajileye, Rtd., PhD, FICMC, are now available for purchase. The publications, Electronic Evidence (Second Edition), With The Evidence Act, 2011 and Compendium Of Cases On Electronic Evidence, Volume II, 2020–2025, provide practical guidance, legal analysis and recent judicial authorities on electronic evidence in Nigeria.Order directly from the author here: https://velvety-cendol-7387ed.netlify.app/ ______________________________________________________________________ [A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation ________________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com

_______________________________________________________________________