ACFE tasks CBN on forensic, fraud investigation

As Nigeria struggles with the irrepressible vices of corruption, financial and white collar crimes, the Association of Certified Fraud Examiners, USA, (Abuja chapter), recommends that the Central Bank of Nigeria, CBN to establish a forensic and fraud investigation unit to tackle the hydra-headed monster proactively.
“By establishing a forensic and fraud management unit, the CBN will be taking a proactive step to rid the financial system of the cankerworm of fraud that has eaten so deep into the fabric of Nigeria’s financial system” says the President of the Association of Certified Fraud Examiners , ACFE, Mr. Ishili Emmanuel during its courtesy visit to the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele.
The ACFE President further maintained that the CBN already has enough pool of Certified Fraud Examiners, CFEs in its employ who could be used to jumpstart the unit, and explained that CFEs are trained to conduct complex fraud examination from inception to conclusion.
He also added that deploying the skills of CFEs in establishing a forensic and fraud management unit would serve as a complementary corporate governance organisational framework maintaining that CFEs training in all aspects of fraud examination, financial examination and the more traditional investigative techniques gives them an edge over security personnel and auditors/accountants.
“A certified fraud examiner is trained to conduct a complex fraud examination from inception to conclusion. Fraud examination frequently presents special problems because they require understanding of complex financial transaction, as well as traditional investigative techniques. A CFE has training in all aspects of fraud examination and the more traditional investigative techniques” he affirmed.
Emmanued who argued that the war against financial crimes and corruption cannot be won without the instrumentality of fraud examiners and forensic accountants further urged the CBN to engage the ACFE as a corporate member by signing on to a Strategic Alliance Membership in order to tap from the pool of unlimited anti-fraud resources like other world class institutions and organisations.
In his response, the Mr. Olabiyi Dosunmu who represented the CBN governor confirmed that the ACFE do have some skills the CBN could use in tackling the challenges in the paymenys systems department and urged the Association to specify exact areas it seeks collaboration with the CBN.
Dosunmu, the deputy director, Banking and Payments System Departments explained that owing to the huge requests it receives for collaborations from different teams, the apex bank seeks clear definition of what such collaboration would achieve.
Several members of the ACFE present during the visit comprises employees of the CBN who belong to the association and others who accompanied the president including Prof. Wilson Herbert, Mr. Charles Keshinro, a chartered accountant, Mrs Elizabeth Oyemi and a host of others.