EFCC charges mobile money and bank agents on regulations


The Economic and Financial Crimes Commission, EFCC has charged members of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) to apprise themselves of regulations and laws governing financial transactions to avoid entangling with fraudulent practices with dire consequences.

The Zonal Head of the Kaduna office of the Commission, Mailafia Yakubu who gave the charge when he received members of the association in his office on Wednesday, December 18, 2019, expressed worry that some unscrupulous operators in the sector conspire with fraudsters to defraud unsuspecting victims of their hard earned financial resources. He warned that while some act out of ignorance, “ignorance is never an excuse in law.”

He, therefore, presented to the association, the Commission’s publications on legal guidelines on financial transactions in the country.

Speaking earlier, the association’s public relations officer, Abdulkarim Ahmad Garba acknowledged the lack of sufficient knowledge of the laws guiding mobile financial transactions in the country and expressed fears that they may go beyond their bounds as bank agents and mobile money tellers. According to him, insufficient knowledge of the legal frameworks in the transactions they carry out makes it necessary for the Commission to organize an enlightenment workshop for members of the association.

Yakubu assured them that the Commission will give their appeal the consideration it deserves.


Please enter your comment!
Please enter your name here