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Money Laundering: Stakeholders Seek Strategies for Nigeria’s Removal from FATF Grey List
Money Laundering: Stakeholders Seek Strategies for Nigeria’s Removal from FATF Grey List
By: Michael Mike
Stakeholders on Thursday advocated improved capacity for law enforcement agencies to investigate and prosecute money laundering and terrorism financing cases in Nigeria.
The participants at the dialogue on strengthening Nigeria’s anti-money laundering and combating the financing of terrorism framework engagement on Nigeria’s FATF delisting, also demanded effective strategies that could lead to the removal of Nigeria from the Financial Action Task Force grey list.
The FATF greylisted Nigeria in February 2023, and the country again failed to scale a review carried out by the global financial intelligence agency at its plenary, in November of the same year.
The participants were drawn from the Ministry of Justice, Nigeria Financial Intelligence Unit, the Economic and Financial Crimes Commission, the University of Warwick and the University of Lancaster.
The programme which was held in Abuja, was hosted by the African Centre for Governance, Assets Recovery and Sustainable Development in collaboration with the Global South Dialogue on Economic Crime, the University of Warwick, the University of Lancaster and the Economic and Social Research Council, among others.
An assistant professor at the University of Warwick Law School, Dr. Joy Malala, noted the greylisting of several African countries by the FATF and proposed that “a shared approach to mitigating the risk of listing needed to be documented.”
Malala stated, “So, part of our aim is to do a NEEDS assessment and try to understand the challenges that many of the government agencies face; whether it’s data management, whether it’s interagency collaboration, communication and what they do with that data as well.
‘’We are also interested in many of the judicial actors, trying to understand how the prosecution works, taking these cases forward to the courts, how the courts adjudicate them, and trying to see how police interact with Customs, interact with other agencies, to better understand the needs of Nigeria.
She explained that money laundering is not a nation-specific crime, emphasising its cross-border, transnational nature, adding that a better coalition would, in fact, limit and constrain how illicit finances flow.
‘’It would better constrain how money flows within these networks, these organised crime networks. So, we are hoping to expand it to other countries, but the focus of this project is strictly on Nigeria as a case study,” she clarified.
Also speaking, Dr Nkechi Azinge-Egbiri of the University of Lancaster said the participants at the dialogue who included stakeholders from the Independent Corrupt Practices and Other Related Offences Commission and the Directorate of State Services would rub minds and strategise against the challenges in combating money laundering and terrorism financing.
“We want to ask and find out what the challenges are, to benchmark their capacity, and to see how we can aid in strengthening Nigeria’s capacity to combat money laundering and terrorist financing, which is very crucial and would contribute to Nigeria’s ability to also attain SDG 16, which is about reducing illicit financial flows within the country, and outside the country,” she said.
The Executive Director of the African Centre for Governance, Asset Recovery and Sustainable Development, Juliet Ibekaku-Nwagwu, said the centre was collaborating with the Federal Government under the International Coordination Review Group, to ensure Nigeria’s delisting from the FATF grey list.
She listed the outstanding issues to include prosecution, investigation, intelligence gathering, and managing data related to terrorism financing cases.
The former NFIU director noted, “Well, today, we are essentially looking at how to improve our systems, whether we’re talking about investigation, prosecution, or in terms of gathering intelligence that will support the investigation.
‘’One of the challenges relates to the investigation of terrorism cases as opposed to any other crime, and also to make sure that when we do that, every law enforcement agency that is involved has the intelligence to do their work, has the capacity to then investigate and then prosecute.’’
Money Laundering: Stakeholders Seek Strategies for Nigeria’s Removal from FATF Grey List
KARAN Appeals for Support for the ministry of Livestock Development
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has appealed to President Bola Tinubu to urgently support the Ministry of Livestock Development in getting its office ready.
The association decried that nearly eight months after the establishment of this crucial ministry, the renovation of the permanent office allocated to it for its operations is yet to be started, noting that this delay has impeded the
implementation of essential policies and programmes aimed at promoting the livestock sector and its value chains across Nigeria.
KACRAN, in a statement on Saturday, signed by its National President, Hon. Khalil Bello said: “When the Ministry was established on July 9, 2024, we, Nigeria’s pastoralists, viewed it as a long-awaited answer to our prayers and a significant step towards addressing over 50 years of
neglect in the livestock sector.
“However, the lack of progress since then has been disheartening, preventing the Ministry from fulfilling its critical role in ensuring food security and contributing to
the national economy.
“Currently, the Ministry functions more as a Directorate of Animal Husbandry Services, lacking the resources and infrastructure necessary for it to operate independently and effectively.
“Despite the critical nature of its mission, the allocated office space/building remains unrenovated and a timeline for starting the renovation or completion has not been provided. This situation severely hampers the ability of the Honorable Minister, Permanent Secretary, Directors and staff to coordinate effectively and execute
their responsibilities.
“Moreover, the financial resources allocated to the Ministry for the 2025 fiscal year are
insufficient for the Ministry to achieve its objectives.
“KACRAN is deeply concerned that without immediate attention to these challenges, the foundational goals of the Ministry will remain unattainable. As the political landscape evolves, it is vital that the focus remains on policy timely implementation rather than allowing the future of this very important Ministry to be muddling through uncertainties.
“We urge President Bola Ahmed Tinubu to prioritize the renovation and operation of the Ministry’s office so that the Honourable Minister and staff can effectively promote and develop the livestock sector.
Additionally, we implore the President to invest significantly in the livestock
sector, for enabling the Ministry to actively engage in ensuring food security, enhancing the nation’s GDP, and reducing heavy reliance on imported milk and food products, which costs Nigeria billions of
dollars annually.
“Finally, KACRAN expresses gratitude to President Tinubu for appointing Professor Muhammadu Attahiru Jega as an Advisor on Presidential Livestock Reform Programmes. We hope that under his
guidance, the Ministry can achieve its goals and bring tangible benefits to Nigeria’s pastoralists and the wider population.”
KARAN Appeals for Support for the ministry of Livestock Development
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
By: Zagazola Makama
Armed robbers attacked Government Secondary School Yashe in Kusada Local Government Area of Katsina State, killing one night watchman and injuring another before escaping with a solar inverter.
Intelligence sources told Zagazola Makama that the attack occurred at about 5:00 a.m. when the hoodlums stormed the school and assaulted the security guards with machetes.
One of the watchmen, Abdullahi Sanusi, 50, died on the spot, while his colleague, Aliyu Ahmed, 65, sustained serious injuries and was rushed to Kankia General Hospital for treatment.
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
By: Zagazola Makama
Security operatives in Kaduna have rescued a former Executive Chairman of Kaura Local Government Area, Seimon Matthias, from a kidnap attempt at his Kagoro residence.
Intelligence sources told Zagazola Makama that the attack occurred on February 14 at about 11:00 p.m. when an unspecified number of kidnappers stormed Matthias’ residence, shooting sporadically in an attempt to abduct him.
However, the sound of gunfire attracted the attention of police officers and other security operatives stationed nearby, leading to a fierce exchange of fire.
The assailants, overwhelmed by superior firepower, abandoned their victim and fled to the mountains.
Police said the victim was rescued unhurt, and a joint operation involving the Army and Kaduna Vigilante Service (KadVS) was ongoing to flush out the criminals from the surrounding bush areas.
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
KARAN Appeals for Support for the ministry of Livestock Development
Armed Robbers Kill Watchman, Injure Another in Katsina School Attack
Police, Security Operatives Foil Kidnap Attempt in Kaduna EX LGA Chairmans home
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