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NSCDC, NFIU, others move to track proceeds from stolen crude.

By Tina Abeku, Abuja
06 October 2022   |   7:30 am
To boost the fight against money laundering, terrorism financing and proliferation financing, the Nigeria Security and Civil Defence Corps, (NSCDC), has partnered with the Nigerian Financial Intelligence Unit, (NFIU), the Economic and Financial Crimes Commission, (EFCC), and the Independent Corrupt Practices Commission, (ICPC), to track proceeds of crude oil theft.

Nigeria Security and Civil Defence Corps (NSCDC)

Sets up financial crimes department

To boost the fight against money laundering, terrorism financing and proliferation financing, the Nigeria Security and Civil Defence Corps, (NSCDC), has partnered with the Nigerian Financial Intelligence Unit, (NFIU), the Economic and Financial Crimes Commission, (EFCC), and the Independent Corrupt Practices Commission, (ICPC), to track proceeds of crude oil theft.

Commandant General, NSCDC, Dr Ahmed, made this known at the opening of a two-day training workshop and capacity building on money laundering, terrorism financing and proliferation financing for NSCDC investigators and prosecutors, yesterday in Abuja.

He said the training marks a paradigm shift in the investigation activities of the agency from focusing only on predicate offences of oil bunkering, pipeline vandalism, and illegal mining, to trailing the proceeds of these crimes.

“The crime of money laundering and terrorism financing is an organised crime which may be nurtured by the proceeds of illegal oil bunkering and pipeline vandalism.

“Therefore, this training programme is an avenue for our investigators and prosecutors to broaden the horizon of their knowledge and expand the scope of their investigation activities to include tracking down movements of proceeds of these crimes by thorough profiling of the suspects and their financial dealings,” he said.

According to him, “This will assist in establishing whether funds realised from vandalism are laundered or used in financing terrorism.”

Stressing the importance of tackling money laundering and terrorism financing to national development, minister of interior, Rauf Aregbesola noted that these crimes impact negatively the economy.

Represented by the Director of Joint Services in the ministry, Peter Egbodo, the minister urged officers and commandants across states selected for the training “not to use the power given to you negatively.”

Speaking on the importance of evidence-based prosecution of criminals involved in money laundering and terrorism financing, Director General and Chief Executive Officer, (CEO), NFIU, Modibbo Tukur, said the inclusion of financial investigators into the work of NSCDC personnel, will ensure that crude oil and critical infrastructure vandalism criminals are nailed based on irrefutable evidence.

He said “NFIU’s information is processed for general use in the investigation. Good and effective training is very important and the NSCDC has done so.”

Tukur pointed out that “beyond the workshop, participants should be able to understand the money laundering and its triggers.”

Chairman of the EFCC, Abdulrasheed Bawa, said money laundering challenges are issued that all law enforcement agencies should understand and tackle.

According to him, “criminality all over the world is mutating hence the need for better ways of tackling them. All matters relating to money laundering and terrorism must be well understood. He was represented by his Director of Operations, Abdulkarim Tukur.

In his address, Professor Bolaji Owasanoye, who was represented by his secretary, Musa Abubakar, noted that the workshop was timely as it ensures that the capacity of personnel is enhanced.

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