The Akwa Ibom State office of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recently hosted compliance officers from banks operating in the state for a high-level dialogue aimed at bolstering joint efforts to tackle corrupt practices and other related Offences.
The Resident Anti-Corruption Commissioner, Mr Baba Alaru Shuaib, who delivered the opening remarks, welcomed the compliance officers and underscored that the engagement sought to deepen the partnership between the Commission and financial institutions in preventing and investigating corruption, money laundering, and related offences.
A key highlight of the meeting was a paper titled “Anti-Corruption Enforcement: Expectations from Bank Compliance Officers”, presented by Mr John Okam. The presentation outlined the ICPC’s expectations of banks regarding compliance standards, cooperation, and responsiveness to requests.
Mr Okam also stressed the need to develop secure channels for automated responses to inquiries from anti-corruption agencies.
Discussions centred on the timely reporting of suspicious transactions, strict adherence to the Money Laundering (Prevention and Prohibition) Act, and the critical role of banks in supporting ongoing investigations.
Dr Anabraba, another presenter, detailed the legal obligations of financial institutions under the Act and emphasised the importance of confidential information sharing.
At the conclusion of the meeting, both parties agreed to improve information exchange and maintain open communication channels to ensure swift action on requests from the ICPC and other anti-corruption agencies.
The bank compliance officers pledged to step up the reporting of suspicious activities, while the ICPC assured them of professionalism and confidentiality in handling shared information.
The meeting ended with a firm commitment from all sides to sustain the partnership in the fight against corruption in the financial sector. Ten participants attended the session.