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How To End Economic Crimes, By Rivers AG
Rivers State Attorney General and Commissioner for Justice, Worgu Boms has pegged efficient intelligence gathering as a sure resource to combating economic and financial crimes in the country.
Speaking at the 32nd International Symposium on Economic Crime at the Jesus College, University of Cambridge, United Kingdom, Boms said Nigeria will benefit a great deal in global information and intelligence sharing as it battles the scourge of economic crimes if put in proper use.
He said, “Since economic crimes are part of the global transnational crimes committed in or between different countries, without being based on any particular location and facilitated through the use of internet technology and other techniques, the use of intelligence as the raw material for ensuring the detection and investigation of these crimes must correspondingly respond to the sophistication in nature and perpetration of such crimes.
“The extent to which we manage intelligence and protect the integrity of its sources, analyses as well as their proper utilization determines to a large extent the strength or otherwise of any initiative in the fight against economic crime. The positive use of intelligence to improve the efficacy of investigations and to facilitate the distruption of economic crime may constitute both the sword and shield in the arsenal in the fight against economic crime.”
Boms also stated that the Nigerian police which is “the primary agency established under the constitution and charged with the responsibility for the prevention and apprehension of offenders, the preservation of law and order and the protection of lives and property” can make great progress in the fight against economic crime and other corrupt practices in partnership with the Economic and Financial Crimes Commission (EFCC) using high intelligence and surveillance techniques as obtainable globally as well as the powers invested on them by the law.
“As part of the statutory functions of the EFCC, its empowered to adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities, economic and financial crime related offences or the properties, the values of which correspond to such proceeds; and the coordinated preventive and regulatory actions; introduction and maintenance of investigative and control techniques on the prevention of economic and financial crimes. The EFCC also has responsibility for receiving, requesting analyzing and disseminating to competent authorities disclosures of financial information concerning suspected proceeds of crime and potential financing of terrorism.
“From the existing legal framework on economic crime in Nigeria, it is evident therefore that the use of intelligence is the most potent weapon in the fight against crime. There is also in Nigeria, the money laundering prohibition act as amended, which contain clear provisions that make the use of intelligence mandatory in the detection, investigation and prevention of economic crime… the act provides under section 6 for special surveillance on transactions which have unjustifiable and unreasonable frequency or surrounded by conditions of unusual complexity or appear to have no economic justification of lawful objective or involve suspected terrorist financing. Transactions involving any of the above circumstances are to be reported to the commission by the financial institution or designated non-financial institution, furnishing all relevant information about the transaction including the identity of the principal and the beneficiaries and take appropriate action to prevent the laundering of the proceeds of the economic crime,” he stated.
The Rivers State Attorney-General however decried the Nigerian financial crime law which pitchs lawyers against their clients by mandating them to report suspicious transactions by their clients to the authorities.
He explained that it would be contradictory of the lawyers’ profession to act as both defender and attacker of their clients at the same time, calling for a review of that aspect of the law that makes Nigerian lawyers police detectors against their clients.
“I was here last year and reported then, that in Nigeria, the law now includes lawyers as non financial institutions and thus are expected to report their clients to the authorities if transactions with which they are concerned for their clients are suspect under the law. This therefore is another source of intelligence gathering, but for me a very uninspiring one at that. As I stated then, ours is the only profession in the whole world, not engineering, not medicine, not even the priesthood, but the legal profession that is charged with the enviable onerous and to me a defying duty of defending even the most scoundrel and despicable of persons accused of crime. To expect these professionals to report the same persons they are ethically and statutorily enjoying to defend to the authorities amounts to enjoining somebody to cry and to laugh at the same time, because as you know, when lawyers have big clients, they laugh, to tell them to report to the authorities, they’ll begin to laugh and that is very contradictory.
“Let the police do their work of investigations and detection, let the lawyer do his work of defending or prosecuting depending on where he is called, that way the coast will be clear for a pure and unpolluted investigation and intelligent gathering process. Some of these irksome provisions which put the lawyer as the defender and attacker, the money laundering act stipulate mandatory disclosure of transactions by financial institutions, the prohibition of anonymous accounts and the surveillance of bank accounts for the purpose of ensuring the detection and prevention of economic crime all by or through banks of financial institutions.
“We do not need to pitch the lawyer against his client to make success. If we remove that, we can still attain some milestone. No efforts therefore should be spared by individuals and groups in strengthening intelligence gathering and sharing between states in the collective fight against the global scourge of economic crime,” Boms noted.
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Adesina’s legacy source of pride for Africa — Okonjo-Iweala

The World Trade Organisation (WTO), has described the legacy of the President of the African Development Bank (AfDB), Dr Akinwumi Adesina, as a source of pride for Nigeria and the African continent.
The Director-General (DG) of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala said this in a statement by the AfDB yesterday.
Okonjo-Iweala made the remark in a video message delivered to AfDB shareholders and delegates at the closing session of the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.
The DG commended Adesina for what she called a decade of transformative leadership that significantly elevated the Bank’s standing and contributed meaningfully to Africa’s development agenda.
“President Akinwumi Adesina is leaving behind a strong legacy of leadership and service. Nigerians and all Africans should be proud,” the WTO chief said.
Recalling their time together in the cabinet of former President Goodluck Jonathan, Okonjo-Iweala noted Adesina’s pioneering efforts in agriculture, especially his introduction of the digital wallet system to empower women farmers.
“I challenged him to reach an additional one to two million women farmers, promising performance-based budget support. He delivered, reaching two million more.
“That’s the kind of leader Akin is. He brought uncommon passion to his work and made a difference to the lives of farmers in the country.
“His leadership has significantly raised the profile of the AfDB to a new height of recognition and respectability,” she said.
Okonjo-Iweala, who was Nigeria’s Minister of Finance in 2015, led the campaign that resulted in Adesina’s election as AfDB President.
The WTO boss praised the growth of the AfDB’s capital base under his leadership from 93 billion to 318 billion dollars, describing it as a remarkable achievement.
She also commended Adesina’s “High 5s” agenda, a strategic framework focused on transforming key sectors across the continent, saying that the initiative remains critical to the achievement of Africa’s Agenda 2063.
“With sustained commitment and strategic focus, Africa’s development goals remain achievable,” she said.
The WTO director-general urged African nations to take greater ownership of their development and turn growing international interest in the continent into concrete investment opportunities.
She also lauded the African Investment Forum, a flagship initiative launched by Adesina and eight other partners to bring infrastructure and development projects to bankable stage.
According to her, the initiative complements the WTO’s efforts to promote economic integration and development in Africa.
Okonjo-Iweala further thanked African leaders, shareholders, and the Bank staff for the support given to Adesina throughout his tenure.
She paid a special tribute to Adesina’s wife, Grace, for what she described as her “steadfast support for her husband’s demanding role” over the past 10 years.
Adesina, who assumed office in 2015, is completing his second five-year term as President of the African Development Bank.
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COAS Supports Early Voting Bill For Military, Security Personnel

The Chief of Army Staff (COAS), Lt-.Gen. Olufemi Oluyede has declared his support for the early voting bill introduced by the Senate for military and security personnel deployed during elections.
Oluyede expressed the support of the army for the bill at meeting with the Chairman, Senate Committee on Army, Sen. Abdulaziz Yar’Adua (APC-Katsina state) in Abuja, yesterday.
He said that the job of the army on Election Day in collaboration with sister security agencies, was to create an enabling environment for Nigerians to exercise their franchise freely.
According to him, the army has been doing very well in support of the lead agency which is the Police and they have not had time to exercise their own franchise.
“The bill is actually long overdue, it is a laudable effort by the senator and we appreciate you; you have all our support for all the bills.
“As an army, we will support you as much as possible and for the programmes you have high noted, be sure we will be well represented,” he said.
The chief, however, urged the crafters of the legislation to put measures in place to avoid impersonation and to enhance communication among security agencies and other essential workers.
He commended the senator for all the support for the army and the legislative support
Earlier, Yar’Adua said that the aim of the visit was to solicit the support of the army for three bills currently under consideration in the National Assembly.
He said that the bills generally seek to strengthen the army forces and deepen its democratic participation in the country.
“The bills are, the Electoral Act Amendment Bill, the Arm Forces Trust Fund Amendment Bill and the Arm Forces Act Repeal and Reenactment Bill.
“I am here basically to seek your support and the partnership in the passage of the bills,” he said.
The senator said that Electoral Act Amendment Bill was necessary to address the number of eligible Nigerians that are disenfranchised because of essential duties.
According to him, we have close to two million Nigerians who work on elections day from the military, INEC staff, Ad hoc staff, NYSC corps members, security agents, journalists and election observers.
Yar’Adua recalled that during the 2023 general elections, the Nigerian Army deployed 95 per cent of its personnel for election related security issues.
He said that together with the Department of State Security (DSS) the military deployed 93,495 personnel.
The lawmaker said that the police deployed 310,973 personnel, the NYSC deployed 200,000 corps members while the National Security and Civil Defense Corps (NSCDC) deployed 81,000 personnel.
He said the Federal Road Safety Commission (FRSC) deployed 21,000 personnel, the Nigerian Correctional Centre (NCC) deployed 11,336 officers, Economic and Financial Crimes Commission (EFCC) deployed 350 operatives while National Drug Law Enforcement Agency (NDLEA) deployed 9,447 personnel.
Yar’Adua said that when the numbers are put together and added to the number of election observers, it would be enough the determine the outcome of an election.
He said that the wide disenfranchisement raised concerns given the declining voter turnout saying that in 2015, voter turn out was 4.7 per cent, in 2019 it dropped 34.7 per cent and in 2023, 27. 3 per cent.
“To allow early voting for military personnel , it is not only a matter of fairness, it is a necessary step to restore confidence, engage young Nigerians and uphold the principle that says those who defend our democracy should not be excluded from it.
“I wish to encourage the Nigerian Army to collaborate with INEC in identifying eligible personnel to vote,” he said.
On his part, the Coordinator, Centre for Legislative Engagement, YIAGA-Africa, Dr Sam Ogwuche said that the bill was apt and timely.
He said that election is the hallmark of democracy and all Nigerians should be able to vote as it is a civic responsibility.
He said that YIAGA-Africa and many other stakeholders at the forefront of canvassing for increased citizen participation were in support of the bill.
News
FG Launches Initiative To Tackle Insecurity In North-Central Region

The Federal Government has launched the Presidential Community Engagement Peace Initiative (PCEPI) to tackle insecurity in the North-Central region of the country.
The Tide source reports that the initiative is the brainchild of Mrs Abiodun Essiet, the Senior Special Assistant to the President on Community Engagement in charge of north-central.
Speaking at the event in Jos, yesterday, Essiet said that the initiative aimed at promoting peace and security in states within the region.
“This initiative is an innovative peace network aimed at driving the peace agenda and promoting social cohesion across the region.
“In recent times, these have witnessed troubling violence such as banditry, farmer-herder clashes, insurgency, kidnapping, among others.
“The challenges before the region are more serious and far reaching; the security situation has led to the tragic loss of lives and property.
“This incident demands a proactive and intriguing response, one that places communities at the corner of peace.
“This is why we are gathered here today to launch a new pathway through the Presidential community engagement on peace initiative,” she said
In his remarks, the Gbong Gwom Jos, Da Gyang Buba, called on Nigerians to pass down historical antecedents to the upcoming generation.
He said that such a move would give a better perspective towards addressing the lingering conflicts in the region.
Inaugurating the initiative, Gov. Caleb Mutfwang of Plateau said that the initiative would go a long way to promote peaceful coexistence in the region.
Mutfwang added that the initiative would also empower communities to take the lead in the peace building process of the Tinubu-led administration.
“This initiative is driven by the belief that peace is not only a goal, but a shared responsibility.
“We gather here at a critical moment in our national journey across our communities
“This initiative aims to empower communities to take the lead in conflict resolution and peace building, recognising that sustainable peace must be local.
“It will also build bridges of trust between citizens through shared commitment and dialogue,” he said
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