In The Last 10 Years, The Fight Against Money Laundering & Terrorism: ACCOBIN

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Money Laundering

The association said in it has put up a great fight against money laundering and terrorism financing amidst other financial crimes. The Association of Chief Compliance Officer of Banks in Nigeria (ACCOBIN) has highlighted some of its achievements in the last 10years.

The association, which is formerly known as the Committee of Chief Compliance Officers of Banks in Nigeria, CCCOBIN, has said in a statement that it has put up a great fight against money laundering and terrorism financing amidst other financial crimes.

In a statement by the association, the Chief Compliance Officer, Standbic IBTC and President of the association, Odeyemi Rotimi Adojutelegan said, “10 years down the line, ACCOBIN has become the rallying point for matters concerning Anti-Money Laundering / Combating the Financing of Terrorism (AML/CFT) compliance in Nigeria.Money Laundering

“The association was formed in 2007 by all the Deposit Money Banks (DMBs) in Nigeria to deepen the collaborative, cooperative and coordinating efforts among its members and all other stakeholders in the fight against Money Laundering, Terrorist Financing, Fraud and all other criminal activities in the Financial services Industry and the country at large.”

Adojutelegan further said, “In its 10 years of existence, the Committee, through collaborative effort with other stakeholders has been able to Increase the awareness of the Nigerian public on the debilitating effects of Money Laundering, Terrorism Financing and other criminal activities on the socio/economic, political and development of the country.

Initiate preventive, detective, corrective and directive programs within the banking industry to stem the tide of criminal activities in the sector; Achieve a non-competitive spirit among its members on issues of fighting crime thereby influencing the success rate of Law Enforcement Agencies at fighting crime in Nigeria.”

In commemoration of the 10 year of its existence as an Association, the Chief Compliance Officers (CCOs) of banks in Nigeria has rolled out a long list of events which include an anti-corruption walk, and a sensitisation programme to enlighten secondary school students on career opportunities and need to shy away from corruption.

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