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INTERPOL Makes Shocking Revelation, Says Hundreds of Dollars Laundered Out of Nigeria Every Hour

Published

4 months ago

July 30, 2024

Eric

The International Criminal Police Organisation’s (INTERPOL) investigation has shown that every hour, hundreds of thousands of dollars are being laundered out of Nigeria across the world.

This disclosure was made in Abuja on Monday by the INTERPOL Vice President for Africa, Garba Umar, while declaring open a four-day training workshop for Nigerian law enforcement agencies at the Economic and Financial Crimes Commission (EFCC) Academy, Abuja.

According to Umar, money laundering across Africa and the entire world has assumed a monstrous dimension and Interpol has designed Silver Notices to combat the menace.

“Evidence has shown that every hour, hundreds of thousands of dollars are flowing out of Nigeria to the region and across the world, laundered before it reaches the pockets of criminals to enjoy the profits of their crimes, while the hardworking and honest Nigerians pay the price of crime”

“With every successful laundering of criminal money, our country becomes more prone to crime. More drugs, more fraud, more corruption and more violence. Every time criminal money is successfully laundered, our financial institutions take an additional blow,” he said.

He stressed that hard times awaited money launderers as the Silver Notices would make illicit funds more difficult to launder in any part of the world.

Speaking on the theme of the Workshop: Strengthening Capacity and Coordination against Financial Crimes, Umar pointed out that financial crimes had become transnational and law enforcement agencies needed regular training for their workforce to be ahead of fraudsters.

He urged participants at the workshop to make it a duty to discuss and learn about transnational crimes affecting their regions, identify possible solutions through a review of policing capabilities to support the country, and facilitate direct and in-person interaction amongst law enforcement networks across the country.

“In essence, this Workshop will allow us to re-examine the challenges of fighting transnational crimes in the country, reassess our strategies, and reaffirm our determination and unity as a country to provide security to our citizens and by extension the global community,” he said.

Umar charged all participants at the workshop to take collaboration with other law enforcement agencies seriously, to advance their investigations and ensure that criminals do not get to enjoy the fruits of their labour.

“The only way we can move forward as a country is by working together and identifying common problems, jointly devising solutions, and taking coordinated and cohesive action. And now is the time that we need to go far, by going together, he said.

Executive Chairman of the EFCC, Ola Olukoyede in his goodwill message, also harped on the need for enhanced collaboration in tackling financial crimes.

He particularly stressed that the complex nature of corruption across the world could only be broken by the might of collaborative actions by every stakeholder. “The daunting nature of the fight against corruption in Nigeria and the world at large deserve serious collaboration among organizations saddled with the responsibility of fighting corruption”, he said.

Olukoyede, who spoke through the Director, Fraud Risk Assessment and Control, FRAC, of the EFCC, Francis Usani, appraised the pivotal role of the EFCC in tackling corrupt practices, especially its impressive records of convictions and recoveries, and expressed optimism that with the new emphasis on preventive framework in tackling financial crimes by the commission, greater progress would be made.

“Our records of convictions and recoveries stand us out, but we will not rest on our oars, we are committed to doing more and in this commitment, the EFCC is re-strategising its operations with a focus on prevention knowing that it is easier and cheaper to prevent corruption from happening than investigating and prosecuting corruption,” he said.

In his remark, Ambassador Extraordinary and Plenipotentiary of Japan to Nigeria, Kazuyoshi Matsunaga, described the workshop as an important joint initiative between Japan and Nigeria to combat financial crimes.

He explained that in the contemporary globalised world, financial crimes transcended borders and required international cooperation among law enforcement agencies to combat them.

“I am delighted that INTERPOL and the Japanese National Police Agency are an integral part of this project, contributing their expertise. A remarkable collaboration took place three years ago when Japanese and Nigerian law enforcement agencies successfully returned a fund to a Japanese fraud victim, earning immense gratitude. Strengthening our partnership through this project will benefit not only Nigerians but people around the world, including the Japanese,” he said.

Director General and Chief Executive Officer, Nigerian Financial Intelligence Unit, NFIU, Hafsat Bakare, spoke about the imperative of strengthening capacity and coordination against financial crimes, pointing out that “ financial intelligence and financial analysis techniques are key to tackling economic crimes”.

“The NFIU, she said, was sensitive to the interconnected nature of the criminal justice system, the threat of organised crime and cybercrimes being fought by law enforcement agencies.

She expressed optimism that the training law enforcement officers would receive at the Workshop would “ sustain efforts being made to ensure that Nigeria exit the Grey List of the Financial Action Task Force possibly by mid-2025.”

Director, Interpol Financial Crime and Anti-Corruption Centre (IFCACC), Isaac Oginni, said the only way to disrupt organised crimes was by denying fraudsters the financial profit behind their criminal enterprise. Besides, financial intelligence could also be utilised well when investigators recognise its value and use it to build a financial profile around suspects.

He challenged participants and stakeholders at the workshop to collectively work together and fight money laundering.

“Each agency represents a different shape of the puzzle with our different strengths and mandates. Each piece of the puzzle forms part of the bigger picture, and even one missing piece will prevent the whole picture from being developed,” he said.

“Today, we will commence the first phase of the Interpol/JICA workshop, a capacity-building project that aims to strengthen Nigeria’s safety through enhancing law enforcement’s capacity to combat financial crime, as well as through increased national cross-agency collaboration and cooperation,” he said.

The four-day workshop, the first of its kind and hosted by the EFCC was organised by INTERPOL and the Japan International Cooperation Agency, JICA. It drew participants from the Police, EFCC, NFIU, Nigeria Immigration Service and the Nigeria Customs Service.

Featured

Tunde Bakare Celebrates Legacy Year, Thanks God @70, Launches New Book

Published

5 hours ago

November 15, 2024

Eric

By Temidayo Adewole

November 11, 2023, marked a significant milestone in the life of Pastor Tunde Bakare, the Serving Overseer of The Citadel Global Community Church, as he celebrated his 70th birthday. The day was filled with gratitude, praise, and festivity, reflecting the pastor’s life of service, leadership, and dedication to God’s kingdom.

The celebration began with a heartfelt thanksgiving service at The Citadel Global Community Church. The sanctuary was packed with members of the congregation, dignitaries, family, and friends, all gathered to honor Pastor Bakare’s life and legacy.

As the service commenced, Lady Evangelist Yinka Alaseyori led the congregation in soul-stirring worship, setting the tone for a spirit-filled celebration.

Afterwards, the Bible reading was taken by Fisayo Bakare, one of the daughters of the Pastor Bakare.

The likes of Former Governor of Awka Ibom Victor Ata, Former Governor of Ekiti State, Kayode Fayemi, Former governor of Ogun State, Olusegun Osoba, Mr Jimi Agbaje, Professor Ibe kachuwku and many others paid glowing tributes to the birthday boy.

A short documentary of the life of Pastor Tunde Bakare was broadcast for the guests just as relatives, close friends and more special guests Pastor including Governor of Lagos State, Mr. Babajide Sanwo-Olu, Wife of the President, Senator Oluremi Tinubu, Bishop Wale Oke, and Pastor Paul Adefarasin. They separately highlighted Pastor Bakare’s contributions to nation-building, leadership, and community development, acknowledging his unwavering commitment to serving God and humanity.

There was also prayers for the Celebrant by Pastor Oladele, Bishop Wale Oke and Rev. Dr Babajide.

There was afterwards the unveiling and launching of the Celebrant book titled “The Last But Definitely Not the Least” led by the Governor of Lagos State, Mr. Babajide Sanwo-Olu and the Governor of Ogun State, Prince Dapo Abiodun, assisted by other dignitaries.

The vote of thanks was given by the Celebrant, Pastor Bakare, who reflected on God’s faithfulness throughout his life, sharing personal testimonies and experiences that highlighted his journey.

In his words (My father has 22 children and I am the 22nd and I’m the only one alive with 22 grandchildren).

He also said (I was trained by 3 Generals In the ministry, Pastor Kumuyi Taught me Holiness, Pastor Adeboye taught me about Faith) He emphasized the importance of gratitude, humility, and service, encouraging the congregation to remain steadfast in their faith.

After the thanksgiving service, guests proceeded to the church’s event center for a grand reception. The atmosphere was filled with joy, laughter, and warmth as friends, family, and well-wishers gathered to celebrate Pastor Bakare’s life.

The reception featured a cake cutting ceremony, gift presentations, musical performances by renowned highlife artist King Sunny Ade. and photo exhibitions showcasing Pastor Bakare’s life and ministry. Dignitaries, including politicians, business leaders, and clergy, took turns to felicitate with Pastor Bakare, praising his selfless service and leadership.

Pastor Bakare’s family members, including his children and grandchildren, presented a heartfelt tribute, expressing their gratitude for his love, guidance, and example.

In his response, Pastor Bakare thanked God, his family, and the church for their unwavering support. He reiterated his commitment to serving God’s kingdom, emphasizing that his life’s work was far from over.

As the reception drew to a close, Pastor Bakare was surrounded by loved ones, basking in the joy and appreciation of a life well-lived.

The 70th birthday celebration of Pastor Tunde Bakare will be remembered as a testament to his enduring legacy, a life marked by faith, service, and dedication to God’s kingdom.

Featured

Quality Service Delivery: Bowen’s VC Commends Globacom’s Strides

Published

1 day ago

November 14, 2024

Eric

Globacom has received commendation from the Vice Chancellor of BOWEN University, Iwo, Osun State, Professor Jonathan Oyebamiji Babalola, for consistently delivering digital services to the university over the years.

This acclamation was made by Professor Babalola during a business meeting in his office at the University of Iwo in Osun State, when he hosted a team from Globacom’s Enterprise Business Group.

The VC conveyed how much he enjoyed working with Globacom and encouraged the company to keep up its uninterrupted services to the academic community.

In order to help the university fulfill its mission of creating better products and advance the frontiers of academic development, he also asked Globacom to support BOWEN University through a number of CSR initiatives.

Speaking at the meeting, Adeniyi Odejobi, the Enterprise Business Lead, Globacom, said that the company has been a major telecommunications service provider in Nigeria, providing telephony and digital solution services for millions of people across the country as well as enterprises, small and medium-sized businesses, large corporations, public sector organizations, and universities. It is also a digital solutions company.

According to Adeniyi, Glo has been at the forefront of revolutionary changes in Nigeria’s telecommunications sector for more than 20 years and is largely to be commended for democratizing the use of telephones and telephony services across the country over the years. “Because of Globacom, every Nigerian today can afford a telephone line”, he noted.

According to Adeniyi, Globacom also evolved a good number of innovations that have aided revolutionary developments in the Nigerian telecom sector, such as Globacom’s fully owned international submarine cable, Glo 1.

In order to advance the university, Adeniyi urged it to deepen its collaboration with Glo in order to offer digital services such as Glo LMS, Toll-Free Data, and Mobility services.

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Henrietta Ugboh Becomes Independent Non- Executive Director As Owanari Duke Retires from UBA Board

Published

3 days ago

November 13, 2024

Eric

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced the appointment of Henrietta Ugboh as an Independent Non-Executive Director.

The appointment has been approved by the relevant regulatory bodies, including the Central Bank of Nigeria.

UBA’s Group Chairman, Tony Elumelu, CFR commenting on the appointment, said, “Henrietta Ugboh brings a track record of professional success, integrity and leadership, which will further strengthen the UBA Group Board, underlining once again the Group’s commitment to robust corporate governance.”

Ugboh holds a degree in Economics and Statistics from the University of Benin, an MBA from ESUT Business School, and is an alumnus of the Harvard Business School’s Executive Management Program. She has over 30 years experience in banking with Citibank and is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and a Fellow of the Institute of Credit Administration (FICA).

Elumelu added that with her considerable experience and expertise, which includes commercial banking, credit, and risk management, the UBA Board is delighted to welcome Mrs Ugboh to the Group Board, “We look forward to her invaluable contribution to the Group, as we continue to execute our unique growth strategy across Africa and globally.”

The Board also announced the retirement of Mrs. Owanari Duke, an Independent Non-Executive Director, who joined the UBA Group Board in October 2012.

During her tenure, Mrs. Duke provided distinguished leadership, serving on Committees of the Bank including the Board Governance Committee, Board Audit, Governance, Nomination & Remuneration Committee, Board Credit Committee, Finance & General Purpose Committee and Statutory Audit Committee.

On behalf of the board, Mr. Elumelu expressed UBA’s deep appreciation to Mrs. Duke for her dedication and significant contributions to the Group, wishing her the best in her future endeavour.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and related banking services.