August 9, 2022

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FG re-affirms dedication to battle cash laundering, terror financing


The federal authorities has re-affirmed its dedication to the battle towards cash laundering and terrorism financing.

The Minister of Inside, Rauf Aregbesola, disclosed this Friday in Abuja on the inauguration of a 10-member Inter-ministerial Committee set as much as implement the adoption and implementation of the assigned roles to the ministry.

This, he mentioned, was based mostly on the Monetary Motion Activity Power (FATF) implementation roadmap adopted by the federal government.

Aregbesola mentioned additional that an excessive amount of the safety challenges going through the county in latest time may very well be attributed to the actions of financial saboteurs who indulged in unlawful monetary dealings to the detriment of the nation.

He mentioned, “Let me reiterate the federal authorities’s unflinching dedication to the eradication of cash laundering, financing of terrorism and associated corrupt practices. This has made us keen and energetic companions with different African and certainly world companions on this advocacy and battle.

”Among the safety challenges going through the nation for the time being could be resolved if the monetary lifeline of the actors have been lower off.

“As cash laundering undermines the reputable personal sector and the integrity of monetary markets, lack of management of financial coverage, causes financial distortion, instability and lack of income, amongst others.”

He urged the Committee to work assiduously to ship on the phrases of reference assigned to them to allow the nation to realize the requirements that might enhance its ranking by FATF and Worldwide Cooperation Assessment Group (ICRG).

The ten-member Committee which is headed by the everlasting secretary within the ministry, Dr. Shuaib Belgore, has different members drawn from businesses underneath the supervision of the ministry.

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NAN stories that the businesses concerned are; the Nigerian Immigration Service (NIS), Nigerian Correctional Service (NCOs) in addition to the Nigerian Safety and Civil Defence Corps (NSCDC).

The Committee is anticipated to report back to the minister each two weeks on progress evaluation.