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EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

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EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

The Economic and Financial Crimes Commission (EFCC) has called on Designated Non-Financial Businesses and Professions (DNFBPs) to ensure full compliance with the Money Laundering Prohibition and Prevention Act of 2022.

This warning was issued during a sensitization programme organized by the EFCC’s Special Control Unit Against Money Laundering (SCUML).

EFCC’s Acting Director for Lagos, Michael Wetkaz, highlighted the global efforts to combat terrorism and warned businesses not to provide a safe haven for criminal elements. “The financial institutions have been regulated, and terrorism has become a global concern. Nations have tightened measures to ensure criminals have no space to operate,” Wetkaz said.

He urged DNFBPs, which include casinos, real estate agents, dealers in precious metals and stones, lawyers, and other professionals, to be vigilant and report any suspicious activities. “If you allow these criminal activities to pass through your businesses, it will worsen the insecurity situation in the country,” he cautioned.

Aminu Ahmed, an Assistant Commander of the EFCC, reminded operators to report currency transactions above N5 million for individuals and N10 million for corporate bodies. He emphasized the importance of appointing compliance officers and adhering to anti-money laundering regulations.

The training also covered topics such as beneficial ownership, financial sanctions, and reporting requirements for Politically Exposed Persons (PEPs), with ACE II officer Folasade Oluwasanya stressing the importance of awareness in curbing financial crimes.

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Wike promises support to private investors in FCT

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Wike promises support to private investors in FCT

Wike promises support to private investors in FCT

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has pledged unflagging support to private investors in the territory.

Wike made the promise when he visited the Zeberced Limited Quarry, Kubwa, in Abuja on Saturday, to see what the company was doing.

The News Agency of Nigeria (NAN) reports that Zeberced Limited Quarry provides services in the construction and quarrying of natural stones and asphalt.

The minister, who described the facility as the biggest quarry in West Africa, said that the investment was very important to the development of the territory.

He, however, pointed out that with such an enormous quarry, the cost of construction ought not to be very expensive, particularly in the FCT.

“Apart from equipment that are being imported for use in the quarry, the raw materials are available here in Abuja.

“I wonder why contractors will be talking about the cost of aggregate, as if gravels, asphalt and stones needed for construction are imported. They are not imported; they are produced here.

“It is really amazing that we have this kind of manufacturing going on here. I really want to encourage the company,” he said.

Wike also commended the company for employing more than 800 persons as workers in the quarry company.

He said: “This is the same company that is constructing the Abuja Technology Village located in Idu.

“We are going to give them all the necessary support. I am really encouraged by what I am seeing here.

“My only problem is environmental impact assessment, but the Managing Director of the company has explained that it is up to standard and that there is no problem.

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Tinubu Lauds Military for Crushing Bandits and Terrorists in North-West

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Tinubu Lauds Military for Crushing Bandits and Terrorists in North-West

Tinubu Lauds Military for Crushing Bandits and Terrorists in North-West

President Bola Tinubu has praised the military for their successful operations against security threats in the North-West, reaffirming his confidence in the ability of the nation’s security forces to maintain peace.

These victories came in response to Tinubu’s directive for service chiefs to relocate to the region until normalcy was restored, according to the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga.

On Thursday, troops from Operation Hadarin Daji eliminated notorious bandit leader Halilu Sububu, who had been terrorizing communities in Zamfara, Sokoto, and other parts of the North-West. In a separate joint operation, security forces neutralized terrorist Sani Wala Burki in Katsina and dismantled a terrorist enclave in Kaduna, rescuing 13 kidnapped students.

President Tinubu expressed his admiration for the military’s high command, intelligence agencies, and troops, acknowledging their bravery, coordination, and commitment that led to these recent successes.

He further applauded the security apparatus for the improved national security and urged them to sustain the momentum until all threats to the nation are permanently addressed.

“President Tinubu reassures the security agencies of his continued support in achieving the priority objective of keeping the nation safe and secure,” Onanuga stated.

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Army Chief Lagbaja Urges Officers to Aim for Operational Excellence

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Army Chief Lagbaja Urges Officers to Aim for Operational Excellence

Army Chief Lagbaja Urges Officers to Aim for Operational Excellence

The Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja, has called on officers of the Nigerian Army to maintain a near-zero margin for operational failure in their leadership roles.

He gave the charge at the graduation ceremony of the Leadership and Strategic Studies Course 2/2023, organized by the Nigerian Army Resource Centre (NARC) on Friday in Abuja.

Addressing the graduates, Lagbaja emphasized that the course, a combination of professional and academic training, was not only a key career course but also a crucial preparation for Nigerian Army direct regular officers in their future assignments, both within and outside the military.

“The participants have no excuse to fall short of expectations in the field,” Lagbaja said, noting that previous graduates had demonstrated that the course content was valuable and worthy of investment.

The COAS highlighted that the course was a senior-level program, designed to mirror the experience of Regular Combatant officers at the National Defence College. Over the past 11 months, participants were expected to have developed skills in policy analysis, argumentation, evaluation, and research in leadership and strategic studies.

In recent years, the Nigerian Army has increased its investment in developing operational and strategic-level leaders, equipping them to “think out of the box” and approach issues objectively for informed decision-making, Lagbaja said.

“Moreover, the political and economic reality of present-day Nigeria requires senior leaders to be ingenious in employing available resources – human and material, to fulfill operational objectives,” he added.

Lagbaja underscored the importance of understanding the army’s internal functions and its relationship with other systems within Nigeria, warning that any gaps in this understanding could lead to operational disasters, which he said would be “unacceptable to the Nigerian people.”

He further emphasized that the army’s commitment to building an efficient military requires defined policies, focused investment, and continuous training to meet both current and future operational demands.

Retired Maj.-Gen. Garba Wahab, Director General of NARC, reiterated that the course was designed to level the playing field for operational officers and enhance the awareness, training, and proficiency of direct regular officers.

Wahab emphasized the importance of collaboration in addressing security challenges, stating, “They must have an open mind to relate with everybody who matters. They must find a way of engaging with the locals and ensuring people believe in whatever they are doing.”

The Nigerian Army Resource Centre also graduated participants from the Leadership Development Skills Course 10, aimed at enhancing the capabilities of non-commissioned officers, as well as junior and mid-level officers.

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