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EFCC collaborate with Int’l partners in UK to track stolen funds

Published

2 weeks ago

September 3, 2024

By Francesca Hangeior.

The Economic and Financial Crimes Commission (EFCC) has teamed up with international partners in the United Kingdom to track and recover stolen funds.

The collaboration was announced at the 41st International Symposium on Economic Crime held at Jesus College, Cambridge, where EFCC officials are participating alongside global experts.

The symposium, themed “Suspect Assets,” focuses on asset tracing, recovery, forfeiture, and associated issues.

According to EFCC’s Secretary, Mohammed Hammajoda, who led the Nigerian delegation, the partnership aims to tackle threats posed by fraudsters and recover proceeds of crime.

He explained that the EFCC’s participation in the symposium highlights Nigeria’s commitment to combating economic crime and recovering stolen funds.

Dr. Umar Bello, Head of the Strategic Intelligence Analysis Unit at EFCC, identified major problems in tracking suspect wealth.

He said, “The major problems are third-party money laundering, trade-based money laundering, concealment of beneficial ownership, and excessive use of cash transactions to obscure illicit sources of funds.

“To break these jinxes, effective case management principles should be adopted to identify suspects’ wealth in the financial system.

“There is an overarching need for multilateral collaboration among agencies involved in asset tracing to strengthen their officials in dealing with the complexities of suspect assets.”

Justice John Tosho, Chief Judge of the Federal High Court, Nigeria, shared the country’s successes in forfeiture of assets and recovery of stolen funds, highlighting efforts to ensure fraudsters do not retain proceeds of crime.

“We are making considerable efforts to ensure that fraudsters don’t get away with the proceeds of their crime,” he assured.

Meanwhile, Prof. Barry Rider, Founder and Executive Director of Jesus College, Cambridge, emphasized the importance of addressing suspect wealth.

His words, “The symposium focuses on a raft of concerns relating to the identification, interdiction, and control of suspect wealth, whether this constitutes criminal property, unexplained wealth, or wealth possessed by those we don’t like.

“And, perhaps for the stability and security of our economies, rather more importantly, the impact—direct and indirect—of such interventions on the rest of us, and in particular our financial institutions and their advisers.”

The event brought together academics, judges, lawyers, investigators, public affairs experts, government officials, policymakers, and law enforcement officers from around the world.

Topics under discussion include identifying suspect wealth, pursuing suspect wealth in cyberspace, and unexplained wealth.

Other topics being discussed include sanctions and suspect wealth, FATF grey listing, and prosecuting high-profile individuals for corruption.

Related Topics:collaborate EFCC stolen funds UK

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Ecoparl: Speaker Ibrahima Reaffirms Parliament’s Dedication to Regional Unity

Published

5 hours ago

September 18, 2024

Gloria Ikibah

By Gloria Ikibah

The Speaker of the Economic Community of West African States (ECOWAS) Parliament, Rt. Honourable Memounatou Ibrahima, restated that the parliament remains committed to ensuring the unity and integration of the people within the subregion.

According to Speaker Ibrahima, the Parliament will continue to use parliamentary diplomacy to engage countries that are considering leaving the bloc due to political challenges, such as Burkina Faso, Mali, and Niger, as a result of military coups they experienced.

The Speaker stated this when she led a delegation of the ECOWAS Parliament on a working visit to the President of the Nigerian Senate, Senator Godswill Akpabio, on Wednesday in Abuja.

She highlighted that while countries may break formal cooperation, the people of the region remain interconnected, adding that the Parliament, as representatives of these people, will work to maintain the unity.

Ibrahima expressed gratitude to the Nigerian Senate for supporting ECOWAS by providing necessary facilities for their plenary sessions, even as she discussed the socio-political challenges facing the region, as well as how parliamentarians can contribute more to address these issues.

She said: “We strengthen parliamentary diplomacy, because we know that the countries might break cooperation but we cannot separate the population. The population always live together and we as representatives of the people, we are doing our best so that this living together will continue to be reality and even made better.

“We came to thank him for all the facilities that the senate has been providing to the ECOWAS Parliament to facilitate the holding of our sessions here in Abuja. We also discussed on the socio-political situation in the community. We also discussed on the ways parliamentarians can make more contributions on the various issues and the challenges that we are experiencing in ECOWAS”.

The President of the Senate,

Senator Akpabio, who was represented by his Deputy, Senator Barau Jubril, commended Ibrahima’s leadership and her efforts in using parliamentary diplomacy to foster cooperation within ECOWAS, especially in light of the challenges posed by countries considering an exit from the bloc.

He noted that since Speaker Meimounatou assumed office, she has deployed enormous parliamentary diplomacy to bear not only on the level of cooperation with institutions in the region but also on those that have expressed the wish to quit the regional block.

Naijablitznews.com reports that Senator Jubril is the First Deputy Speaker of the ECOWAS Parliament.

He said: “Since she was elected the Speaker of the ECOWAS Parliament, she has been up and doing in terms of giving leadership to the parliament. It is in that regard that she is here trying to chart a better course for the parliament to make sure that she brings parliamentary diplomacy to bear in terms of our cooperation not only with those who are within the community as we speak but also even those who are attempting to leave the community.

“It is in that respect that she is here, and what she is doing is commendable. She has come to strengthen her idea and initiative of making the parliament stronger and more effective”.

News

Air Force Begins Moving Electoral Materials For Edo Guber Election

Published

7 hours ago

September 18, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Nigerian Air Force (NAF) has began airlifting the sensitive election materials for the Independent National Electoral Commission (INEC) to Benin, Edo State, ahead of the upcoming governorship election scheduled for September 21, 2024.

This was disclosed on Wednesday by the Deputy Director, Public Relations and Information, Group Captain Kabiru Ali.

The operation is part of the NAF’s efforts to ensure the timely and secure delivery of materials necessary for a smooth electoral process.

This development reinforces the collaboration between NAF and INEC to facilitate logistics and ensure a peaceful election in Edo State.

The Chief of the Air Staff, Air Marshal Hasan Bala Abubakar, had previously reiterated NAF’s commitment to providing airlift support for the swift movement of electoral materials during a meeting with INEC Chairman, Professor Mahmood Yakubu.

This airlift operation is a crucial aspect of NAF’s constitutional responsibility to provide Military Aid to Civil Authority, underscoring the force’s dedication to supporting democratic processes in Nigeria. With the election just days away, the NAF’s timely intervention will help ensure the successful conduct of the governorship elections in Edo State.

Governor Godwin Obaseki of Edo State had earlier accused the Inspector General of Police, Kayode Egbetokun, of working with the All Progressives Congress (APC) to hunt the Peoples Democratic Party (PDP) members and supporters in the state and force them into hiding ahead of September 21 governorship election.

Obaseki, who made the allegation when a delegation led by the former Head of State, Abdusalam Abubakar, met with him to get the governor and his party to sign peace accord, said that the IGP had made nonsense of his (Obaseki’s) role as the chief security officer of the state.

The governor had said that the police chief obtained a warrant to arrest 60 members and supporters of PDP in Edo and that the IGP sent an armed “gang” of policemen who invaded the state, attacked PDP members, shot at a local government chairman and arrested 10 persons who are currently being detained in Abuja without charges.

Asked by the former head of state if his party would sign the peace accord, Obaseki said, “The person who is supposed to enforce the peace accord is now an active participant in creating a destructive environment.

“We are now in a situation where from the Inspector General’s office, there are armed gang policemen who came into Edo State, invaded, arrested and took away PDP members.

News

“Dancing gives me abundant joy and peace of mind”-Gov Adeleke

Published

7 hours ago

September 18, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Governor of Osun State, Ademola Adeleke, has given reasons why he loves dancing.

The ‘Dancing Governor’, as he is fondly called, revealed this on Wednesday while responding to a tweet on X.

An X user, @Iwogoke, while praising the governor, stated that Adeleke has been busy fulfilling his electoral promises to the people of Osun State, while his political opponents believe he is only good at dancing.

Iwogoke tweeted, “I’m not flattering you, Your Excellency, your opponents think you can only dance but while they are busy shouting and calling you ‘Dancing Governor’, you are busy fulfilling your electoral promises to the people.”

Responding to the tweet via his verified X account, Adeleke explained that he loves dancing because it brings him joy.

Speaking further on his love for dancing, Adeleke highlighted that while dancing brings him immense happiness, his greater fulfilment comes from delivering the dividends of democracy to the people of Osun.

Outlining his administration’s efforts to enhance the state’s infrastructure, he noted that primary health centre rehabilitation is underway in at least 200 out of the 332 wards across Osun State, adding that road construction projects are also progressing in every local government area.

He wrote, “Dancing gives me joy, but delivering on my electoral promises and providing the dividends of democracy to the good people of Osun gives me even greater joy. Rehabilitation of primary health centers is ongoing in at least 200 out of 332 wards, and road construction is progressing in every Local Government!”