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‘We need collaborative efforts to end money laundering, fraud’


POLICE-LOGOThe Lagos State Deputy Commissioner of Police, Special Fraud Unit, Zubairu Muazu, has canvassed the collaborative efforts of all agencies at local and international levels to find lasting solution to issues of money laundering, fraud, corruption and other related issues that are currently suffusing the nation’s economy.

Mauzu, who spoke in Lagos at the inauguration of the Association of Certified Fraud Examiners (ACFE), Lagos Chapter, said: “The issues of fraud corruption, money laundry are all issues of international concern so there must be collaboration between all agencies within and outside the country.

He disclosed that there was a lot of international cooperationalready going on;saying that United Nations (UN) legislations, African Union (AU) legislations and local legislations would ensure that the fight against corruption and fraud related issues was deepened.
Lauding the initiative of the inaugurated group, Muazu said: Bringing together fraud management specialists is very necessary and I believe this training is also going to assist by no means in getting to our destination in terms of fraud management.

According to him, the event, which also featured a seminar on “Certified Fraud Examiners’ Role in Economic Development and Transformation”, must become an elixir to fraud to become more intelligent, knowledgeable, honest and impartial in dealing with fraud issues so as to succeed in the fight against the threat.

Muazu said that lack of professionals in the investigation team, slow response to enquiries by agencies, slow judicial process, evidence and judicial process with other challenges remained constrains to effective fight against fraud in the country.
He urged financial institutions in the country to regularly report frauds to necessary regulatory bodies and ensure that proper records were kept as well as to respond swiftly to law enforcement investigations.

The president of the association, Godwin Oyedokun said that there must good governance and leadership both at the private and public sector to halt fraud in the country.

“Corruption and economic self-indulgence impact negatively on the effort to transform Economic, therefore, economic transformational leadership must ensure they observe the components of transformational leadership”, he stated.

Oyedokun added that fraud examination as well as forensic accounting techniques should be integrated in developmental effort by transformational leadership so as to bring about desired national development
Commenting on the determination of the nation’s President, Muhammadu Buhari to end corruption, Oyedokun said the President must ensure that his teams were verified before they could be trusted.

Also, describing the inauguration as a groundbreaking achievement, he noted that the sector had face challenges in the areas of fraud examination and forensic investigation because there was no umbrella body for the operations of the professionals.

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1 Comment
  • Guess what?

    Hi Zubairu, I do not agree with you in totality. This concept of telling the public that security is a join efforts is a fraud. I have my role as a citizen. I am a security officer and I am not being paid to secure Nigeria. I am not trained to secure Nigeria. The Police are the ones assigned to do the business of policing and they must get the public to share in their show of shame. Except in cases where any member of the public witnesses an event to was confirmed to be a crime, the courts of the land will not invite members of the public to testify. A prosecutor may not have witnessed a crime but as a law officer, they are training to build up evidence regarding a crime. You know the hot spots. You know most of the criminals. You know where to fish them out. You can set up your security network and monitor criminals and nib them at in their buds. Your police stations are stinking to the high heavens. You don’t need to get angry with me. Just have a human heart and break the cyst. I doubt if there is any case in all your police stations in Lagos state where bribes do not change hands. Your conscience will tell you that all matters reported at the police station is a raw material and merchandise for the police station. Criminals are paying their way out. Complainants paying their way to get justice. If you don’t believe me and you indeed do not share from the bribes pool, then set up some under cover agents in 10 of the police stations in Nigeria. Get some hidden cameras and monitor from your command and control and you will see the rots going on. What you should have said in your speech above is apologies to the public, admitting that the Police is in a mess and a dramatic clean up is on the way. The other reason why the police is stinking: See the physical stench in every police station. The offices are not good for any human to work yet people are doing anything to get into or stay in the police force. See the police barracks . These barrack are the dirtiest places I know in Nigeria. Yet people hardly resign from the job. Reason: so much money to make. So much bribe to collect. Let the clean up start. Show us the way forward. Nigeria must recover again. Can you do anything in this direction sir.