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Shocker! Hundreds of Dollars Laundered Out of Nigeria Every Hour, Says INTERPOL
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.
Headlines
Aftermath of Visa Revocation: Trump, a Petty-minded Dictator, Soyinka Knocks U.S President
Nobel Laureate, Prof. Wole Soyinka, has sensationally described U.S. President Donald Trump as a “petty-minded dictator” whose rise to power fuelled hate-driven violence and worsened racial tensions in the United States.
Speaking in an interview with BBC News Pidgin on Facebook on Wednesday, Soyinka said Trump’s presidency exposed the “dark side” of America and emboldened acts of hatred, particularly against minorities.
“This is a petty-minded dictator. You see how he deals with his objects of hate,” Soyinka said, barely two weeks after the Trump administration announced permanent revocation of his entry visa to the country.
“We saw that dark side of the American side. There were more killings, extrajudicial killings by the police of black people, of minorities, during that build-up, during the campaign, and on account of hate rhetoric, the hate rhetoric of this individual,” he added.
The Nobel Laureate noted that Trump’s campaign rhetoric normalised hate speech and created a climate of intolerance that had lasting consequences.
Soyinka recalled that he had earlier warned about Trump’s leadership style, predicting that one of his first actions as president would be to target immigrants.
“I saw it and I said, listen very carefully, and you can go and check this, I said, ‘When that man comes to power, the first thing he will do is cancel even the green cards’,” he said.
The literary icon, who has often criticised authoritarian tendencies in global politics, maintained that Trump’s administration reflected a deep moral and cultural decline within American society, particularly in its treatment of minorities.
Headlines
Alleged Genocide: Approach Nigeria’s Security Situation with Understanding, FG Tells Trump
The Federal government has again urged United States President, Donald Trump, to demonstrate understanding in his approach to Nigeria’s security challenges.
The Minister of Information and National Orientation, Mohammed Idris, made the call during a press briefing on Wednesday in Abuja, days after Trump threatened military action against Nigeria over what he claimed is a genocide against Christians in the country.
“We call on our American friends and partners to approach the Nigerian situation with an understanding of its complex realities. Nigeria is a vast, multi-ethnic, multi-religious nation, making significant strides in economic reforms and strengthening its security architecture.
“We believe constructive engagement is the surest and most effective way to achieve peace and stability not only in Nigeria but in any part of the world.
“Nigeria welcomes dialogue, we welcome cooperation, and we also welcome support from foreign nations, including the United States of America, in addressing our shared security concerns,” the minister said.
Idris reiterated the current administration’s commitment to tackling the menace of terrorism, banditry, kidnapping, and other violent crimes in the country.
The minister maintained that the Federal government was winning the war against terrorism with major achievements recorded in the North-Eastern part of the country.
“In March this year, a report by the Global Terrorism Index indicated that terrorist attacks were at their lowest in over a decade in Nigeria. The Nigerian government did not say this; it is the international community that has given out this information,” he stated.
“In the last eight months, the Nigerian military has neutralised over 592 terrorists in Borno State alone. Many of them have been sent to their onward beyond.
“Over 11,200 hostages have been freed, and this is still going on. More importantly, over 124 insurgents and their families have surrendered. They have handed over more than 11,000 weapons to the security agencies,” Idris added.
According to the minister, the current administration has made multi-million dollar investments in modernised equipment for security agencies.
Noting that President Bola Tinubu has always supported the nation’s armed forces, Idris said the Commander-in-Chief has increased the budgetary allocation for the military.
He explained that Tinubu has demonstrated the political will to root out terrorism, rampaging bandits, and other criminal elements terrorising Nigerians.
The minister also highlighted military operations in the North-West region of the country, saying that the onslaught against criminals had led to the surrender of bandits in the region.
Idris cited cases where notorious bandit leaders had been eliminated by military strikes in Niger and Zamfara states.
“In the North-West, especially in Zamfara and Kaduna, 11,250 hostages have been freed, and some of the terror leaders that have made life very unbearable for people there have been neutralised.
“They include Ali Kachalla, Boderi, Halilu Sububu, and many others. All these have been sent to where they belong. Only this August, the military intercepted and killed in one operation over 400 armed bandits who had converged to attack a village in Zamfara State,” he stated.
Last Friday, Trump said Christianity faces an existential threat in Nigeria, describing the alleged killing as a “mass slaughter”.
“Christianity is facing an existential threat in Nigeria. Thousands of Christians are being killed. Radical Islamists are responsible for this mass slaughter,” he wrote.
The US president added that the United States “cannot stand by while such atrocities are happening” and directed Congressman Riley Moore and House Appropriations Chairman Tom Cole to investigate the matter.
“I am hereby making Nigeria a ‘country of particular concern.’ But that is the least of it. When Christians, or any such group, is slaughtered like is happening in Nigeria (3,100 versus 4,476 Worldwide), something must be done!
“I am asking Congressman Riley Moore, together with Chairman Tom Cole and the House Appropriations Committee, to immediately look into this matter and report back to me.
“The United States cannot stand by while such atrocities are happening in Nigeria and numerous other Countries. We stand ready, willing, and able to save our Great Christian population around the World!” Trump wrote.
Secretary of State, Marco Rubio, is putting Nigeria back on the watchlist, reversing a Joe Biden-era policy due to the extermination of Christians, Fox News reports.
The US President, Donald Trump, on Friday, ordered the designation of Nigeria as a Country of Particular Concern, saying that Christians in Nigeria are facing an existential threat. He also called on American lawmakers to investigate the mass slaughter.
A day later, Trump revealed that he had ordered the Pentagon to prepare for possible action in Nigeria as he continued accusing the Federal Government of violence against Christians.
Trump, who posted a statement on his social media handle, said that if the Nigerian government continues to allow the killing of Christians, US troops will be ordered to enter Nigeria and wipe out terrorists.
He said: “If the Nigerian Government continues to allow the killing of Christians, the U.S.A. will immediately stop all aid and assistance to Nigeria, and may very well go into that now disgraced country, “guns-a-blazing,” to completely wipe out the Islamic Terrorists who are committing these horrible atrocities.
”I am hereby instructing our Department of War to prepare for possible action. If we attack, it will be fast, vicious, and sweet, just like the terrorist thugs attack our cherished Christians! Warning: The Nigerian government better move fast!”
However, Fox News is now reporting that Trump’s directive has been carried out as Rubio is putting Nigeria back on the watchlist.
Source: Fox News
