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EFCC Seeks Stiffer Sanctions For Financial Crimes
Chairman of the Economic and Financial Crimes Commission (EFCC) Farida Waziri has advocated stiffer sanctions for perpetrators of financial crimes.
Waziri spoke at a public hearing, midweek, held by the House of Representatives Committee on Drugs, Narcotics and Financial Crimes.
The hearing was on the bills for an Act to provide for measures to combat terrorism and related matters and one to repeal the Money Laundering Prohibition Act, 2004.
The Weekend Tide source reports that the Financial Action Task Force (FATF) and some other anti-money laundering agencies had placed Nigeria on their watch list.
The action led the Federal Government to inaugurate the Presidential Inter-Ministerial Committee to address identified weaknesses in the nation’s anti money laundering crusade. Waziri said the sanctions regime in the 2004 Act was not proportional as to discourage criminals, noting that the existing laws were ambiguous in defining the 20 offences the FATF categorised as money laundering and financial crimes.
“There is a need for the Money Laundering Prohibition Act (MLPA) to recognise and designate the 20 serious offences as recommended by the FATF.
“The bills, when passed, will also address the wide range of inadequacies in Nigeria’s AML/CFT legal framework as highlighted in country’s 2008 Mutual Evaluation Report by the FAFT and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA),” she said. According to her, Nigeria is rated non-compliant in majority of the FATF’s 40 recommendations, mainly on account of weakness in the country’s legal framework.
Waziri reminded the committee that Nigeria had been the target of review by the FATF on account of the weakness observed in the nation’s anti-money laundering regime and her readiness to combat terrorism.
She identified weak sanctions regime, inadequate provisions for customer, due diligence requirements, non-inclusion of politically exposed persons and lack of definition of suspicious transaction reporting as some of the weaknesses.
Waziri also cited the absence of legal protection for reporting institutions and persons and absence of legal provisions for the protection of information of Nigeria Financial Intelligence Unit (NFIU).
She said most countries have laws to protect informants so that they would not be endangered. “ We need to protect you (informants) so that we can encourage people to come forward, that is the whistle blowing we are talking about,” she said.
In his presentation, Mr Lanre Ipinmisho, Director-General of Nigeria Drug Law enforcement Agency (NDLEA), said all stakeholders must play a role by collaborating with one another in fighting corruption and drug related offences.Ipinmisho said it was through collaboration of all anti graft agencies and security outfits that the issue of drug barons and corruption would be dealt with.“As the nation prepares for 2011 elections and we want our votes to count, the problems we have is not the laws to implement all these but the commitment and sincerity of all relevant agencies.“We have all the laws; we also need the officers to implement the laws without pressure from international friends to deal with the drug barons who were ready to use their ill gotten wealth to rig elections in their favour,’’ he said.Declaring open the public hearing, the Speaker, House of Representatives, Dimeji Bankole, said that all terrorist acts are crimes under international law, adding that legislation and gathering of intelligence must be used to combat terrorism. Represented by the House leader, Hon. Tunde Akogun, Bankole, pledged early passage of the two bills.He assured that the House would ensure transparency, probity and accountability in legislating against terrorism, money laundering and corruption.Chairman of the committee, Rep. Rabe Nasir, said it was the responsibility of all stakeholders to fight terrorism and money laundering as both were capable of ruining a nation.Nasir, however, said the committee was dissatisfied with the efforts of anti graft agencies in combating money laundering.The Weekend Tide source reports that there were presentations from the Central Bank of Nigeria, NFIU, Nigeria Police Force, Nigeria Civil Defence and Security Corps and Securities and Exchange Commission.
News
Mba Seeks Closer Synergy To Check Road Accidents
Worried over the high rate of accidents on Nigerian roads, resulting in the death of hundreds of thousands of people, the Governor of Enugu State, Barr Peter Mbah, has called for closer synergy and cooperation among security agencies to check the ugly trend and ensure safety on all the roads within the country.
Governor Mbah, made the call in an address at the Graduation Ceremony of Senior Course 2 of the Federal Road Safety Corps (FRSC) Command and Staff College, Udi near Enugu.
Represented by the state Commissioner for Information, Chief Aka Eze Aka, governor Mbah noted that closer security and intelligence sharing on incidents on roads within the country by various security formations and agencies both military and para-military would lead to greater security and safety of lives and property on roads.
He stated that the state government had keyed into the FRSC vision of reduction in road crashes and fatalities, adding that it had equipped the state traffic officers with the same set targets.
“As an administration, we are making all efforts to fix and improve on all roads and road infrastructure within the state; while we are calling on the Federal Government to do the same.
“Our partnership with the FRSC for training and retraining of our road traffic officers will continue and be strengthened so that as a state it will also build its own capacity to deal with road traffic issues and challenges,” he said.
Governor Mbah, however, congratulated the graduating participants of the course, while commending the FRSC management for being in the forefront of raising the standard and quality of its staff.
According to him, “my administration will continue to partner with the FRSC and strengthen existing engagements of mutual benefits”.
Earlier, the FRSC Corps Marshal, Dauda Biu, said that the event was significant to the Corps as it marked its commitment to continuously improve its educational and operational standard and capacity.
Biu, represented by the Deputy Corps Marshal (DCM) Bisi Kazeem, who is in-charge of FRSC Training, said that the Corps was building resiliency and increasing its service delivery capacity by equipping its officers with quality and international standard training.
By: Canice Amadi Enugu
News
PDP Opobo/Nkoro Hails Fubara On Peace, Projects
Stakeholders of Peoples Democratic Party (PDP) in Opobo/ Nkoro Local Government Area of Rivers State have commended the state Governor, Sir Siminalayi Fubara for his disposition that has fostered peace in the State.
Rising from an expanded stakeholders meeting last Saturday in Opobo Town, the body in an eight-point communique signed by its Chairman, Hon. Benneth Daminabo, Chairman of Council, Rt. Hon. Enyiada Cookey-Gam and LG party Chairman, Warisenibo Godwin Pepple commended the governor for linking Opobo/Nkoro LGA to the national grid.
In addition, it lauded the effort of the governor in pursuing the 50.15 kilometre Dual Carriage Ring Road, Elelenwo internal road, Aleto-Ebubu-Eteo Road in Eleme and Andoni Road projects.
Despite the distractions, the stakeholders said they were impressed that the governor had equally done projects in health-the unveiling of Prof. Kelsey Harrison Hospital, Agric projects at Tai and Oyigbo and improving welfare of civil servants.
In their words, “members reaffirmed their unalloyed loyalty and implicit confidence in his administration.”
Condemning the unfriendly and discourteous utterances of Senate President, Godswill Akpabio and Tony Okocha in different fora in the State, the forum urged the duo to desist from such action in order not to heat up the polity.
The forum pledged to stand by the governor through, “thick and thin”, the stakeholders acknowledged the contributions of women, who through prayers for the government has impacted positively in the direction and posture of the governor.
Finally, the forum unanimously expressed gratitude to the Simplified Movement and other bodies that have thrown their weight behind the governor to ensure that the administration is stable and successful.
By: Kevin Nengia
News
‘Rivers People Are Now Breathing Fresh Air Under Fubara’
Aformer Caretaker Committee Chairman of Abua/Odual Local Government Council of Rivers State, Hon Elamo Arogu, says under Governor Siminalayi Fubara, the people of the State are now breathing fresh air.
Hon Arogu said Governor Fubara has given Rivers people hope, considering the impactful and people-oriented projects being carried out by his administration.
The former CTC chairman made the assertion during the Simplified Movement’s thanksgiving service and rally held in honour of Rivers State chief executive last Friday in Abua .
Arogu said under Governor Fubara, the Abua/Odual people have the confidence that the dividends of democracy will definitely get to them.
He noted that the Governor has the strong will to change the narrative in Rivers State, being the reason he is receiving massive support across the State.
“The people of Abua/Odual are strongly behind him. Our doors ate open for everyone because there is government in place to attend to the needs of the people. I believe that he will develop Abua/Odual and other Rivers council areas, hence, the massive support. This government is business- oriented and we are ready to encourage him succeed and invest in our land. The issue of a bank; road networks and other necessities of life bordering on development as demanded by the people will be considered by Governor Fubara”, he said.
He called on the opposition to team up with Governor Fubara to build a stronger, united and viable Rivers State.
He maintained that ward nine under his leadership is Simplified.
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