
Our Banks Are Corporate PENlums
Corruption in Nigeria is a major problem which has a devastating human cost. Without doubt, corruption kills people and traps millions more in poverty. It also undermines the global economy and threatens national security, growth and progress. The largely hidden truth is that commercial banks in Nigeria play an integral role in enabling this unpatriotic act. Corrupt officials need somewhere to hide stolen money. Yet while laws and regulations apply which require banks to do a range of checks to detect the proceeds of corruption, many banks fail to uphold them. As result they are leaving the door wide open…