Joy Agwunobi
Access Bank Plc is stepping up its efforts to combat drug trafficking and money laundering by forging a stronger alliance with the National Drug Law Enforcement Agency (NDLEA).
This comes as Nigeria battles an escalating wave of illicit drug activities, which have posed numerous challenges to national security and the financial sector.
At a recent ceremony held at Access Bank’s headquarters in Victoria Island, Lagos, Roosevelt Ogbonna, the bank’s group chief executive officer/managing director, and Femi Jaiyeola, group chief conduct and compliance officer of the bank, were officially decorated as partners in the NDLEA’s War Against Drug Abuse (WADA) initiative.
The event marked a symbolic deepening of cooperation between the bank and the NDLEA, highlighting the vital role financial institutions play in curbing illicit financial flows linked to drug trafficking.
The NDLEA’s representatives at the event included Omolade Fagboyegbe, deputy commander general of Narcotics and director of Seaport Operations and Marine Services. Senior Access Bank executives present at the ceremony were Omobola Faleye, group head of Internal Audit, Robert Imowo, group head of Corporate Counsel, and Daniel Patrick, unit head of Regulatory Compliance.
As Nigeria’s drug crisis has intensified in recent years, with major cities witnessing a sharp increase in drug-related crimes. The NDLEA, which has been at the forefront of tackling these issues, has emphasised the importance of disrupting the financial networks that enable drug traffickers to launder their profits; financial institutions like Access Bank are critical in this effort, as they have the capability to detect and block the flow of dirty money within the financial system.
At the event, Abraham Aziegbe, group head of retail operations at Access Bank, reiterated the bank’s dedication to upholding the integrity of its financial systems. He expressed the bank’s gratitude for the recognition from the NDLEA and acknowledged the responsibility that comes with being one of Africa’s leading financial institutions, while also emphasising that Access Bank is committed to ensuring its financial platforms are not misused for illicit activities or illegal purposes.
“Our compliance framework is built to identify and prevent illicit transactions, and we will continue to collaborate closely with law enforcement agencies like the NDLEA to safeguard the financial sector from being exploited by criminals,” Aziegbe added.
On his part, Ibrahim Abdul, deputy commander general of narcotics and director of assets and financial investigation at the NDLEA, commended the bank’s efforts to fight money laundering and illicit financial activity. He described the partnership as a crucial step towards dismantling the economic backbone of drug trafficking organisations
