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ICPC, Standard Chartered Bank Sign MoU on Financial Fraud Risk

The Independent Corrupt Practices and Other Related Offences Commission and Standard Chartered Bank of Nigeria have signed a Memorandum of Understanding (MoU) on ways to tackle the menace of financial fraud risk in the country.

The MoU was signed on Wednesday at the Commission’s Headquarters when some management staff of Standard Chartered Bank ably led by its Executive Director, Compliance and Risk Management, Mr. Siji Adeyinka paid a courtesy call to the ICPC.

In his remark, the ICPC Chairman, Dr. Musa Adamu Aliyu, underscored the importance of effective collaboration with financial institutions like Standard Chartered Bank saying the movement of money from one end to the other start with financial institutions and law enforcement agencies like ICPC requires their expertise and information to tackle financial fraud in the public sector.

“We as law enforcement agencies cannot work without partners that are key to our work like your bank. With your background, you’ll be of a lot of help to us and I know we also have a lot to offer to you.”, the ICPC boss stressed.

According to him, “Some of the issues concerning the movement of money start with financial institutions but don’t end there and you are the people who have the information, once we’ve been able to understand how we can work together, we’ll solve a lot of challenges confronting us.”

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