First Bank Commends EFCC, Seeks Stronger Partnership to Combat Financial Crimes in Nigeria

The Economic and Financial Crimes Commission (EFCC) has received strong commendation from First Bank of Nigeria, with the financial institution describing the anti-graft agency as a “fantastic organisation” and one of Nigeria’s most respected public institutions, citing its professionalism, integrity, and effectiveness in asset recovery.
The endorsement came on Wednesday, April 15, 2026, during a courtesy visit by the Head of Fraud and External Relations at First Bank, Mr. Aluko Joseph, to the EFCC Benin Zonal Directorate.
The visit underscored the growing institutional collaboration between both organisations in addressing financial crimes, particularly fraud detection, investigation, and recovery of stolen funds within Nigeria’s banking system.
EFCC’s Role in Asset Recovery Praised
Speaking during the engagement, Mr. Aluko expressed appreciation for the EFCC’s sustained efforts in supporting financial institutions through investigations that have led to the recovery of substantial sums of money linked to fraudulent activities.
He noted that First Bank had benefited significantly from the Commission’s interventions, stressing that such recoveries reinforce confidence in Nigeria’s financial system and strengthen public trust in regulatory institutions.
“We are grateful to the EFCC for its professionalism and the integrity it brings to the discharge of its duties. The Commission is a fantastic organisation and one of the nation’s most revered institutions,” he stated.
Aluko emphasized that the increasing sophistication of financial crimes necessitates stronger collaboration between banks and law enforcement agencies, particularly in preventive frameworks and intelligence sharing.
Call for Stronger Institutional Partnership
The First Bank executive advocated for a more structured and sustainable partnership between both institutions, focusing on prevention, investigation, prosecution, and post-recovery processes.
He noted that collaboration remains essential in tackling emerging financial threats, including cyber-enabled fraud, identity theft, and complex financial scams targeting banking systems.
“By working together, both organisations can make significant strides in combating threats to financial institutions,” he said. “The objective is to build enduring relationships that support ongoing progress and development.”
He also called for joint capacity-building programmes, training sessions, and knowledge-sharing initiatives, noting that continuous professional development would enhance the ability of both institutions to detect and prevent fraud more effectively.
Highlight of Recovery Success
Accompanying him on the visit, the Group Head, Edo State, Mr. Martins Akinsimisi, also commended the EFCC for its operational effectiveness.
He referenced a notable recovery achievement in January 2026, when the Benin Zonal Directorate of the EFCC successfully recovered over N1 billion and returned same to First Bank following investigations into fraudulent transactions involving one Ojo Eghosa Kingsley.
The recovery, he noted, reflects the importance of sustained inter-agency collaboration in ensuring accountability and restitution for victims of financial crimes.
EFCC Reaffirms Commitment to Anti-Corruption Mandate
Responding, the Acting Zonal Director of the EFCC Benin Zonal Directorate, Deputy Commander of the EFCC (DCE) Sa’ad Hanafi Sa’ad, expressed appreciation for the recognition accorded to the Commission by First Bank.
He reaffirmed that the EFCC remains committed to its statutory mandate of tackling economic and financial crimes across the country.
“We are guided by our core values of professionalism, integrity, courage, and collaboration in the discharge of our duties. Every staff of the Commission upholds these values in the performance of their responsibilities,” he said.
Sa’ad added that the Commission will continue to pursue financial criminals without fear or favour, stressing that sustained enforcement remains key to protecting Nigeria’s financial system and strengthening investor confidence.
Strengthening Institutional Trust
The visit highlighted the importance of synergy between financial institutions and anti-corruption agencies in addressing evolving financial crime risks.
Both organisations reaffirmed their commitment to deepening cooperation, with emphasis on intelligence sharing, fraud prevention systems, and capacity development as critical tools in safeguarding Nigeria’s banking and economic environment.
First Bank of Nigeria praises EFCC as a “fantastic organisation” for its integrity and asset recovery efforts, calling for stronger collaboration to combat financial crimes, enhance fraud prevention, and improve institutional capacity in Nigeria’s banking sector.