Connect with us

News

EFCC accuses 10 banks of money laundering

Published

on

Ibrahim Magu, the acting Chairman of the Economic and Financial Crimes Commission (EFCC), has accused 10 unnamed commercial banks of money laundering.

Magu stated this on Friday, while speaking at a round table meeting with managing directors of financial institutions in Nigeria.

The EFCC boss spoke on the theme: “Roles and Obligations of Managing Directors of Banks in Nigeria in Curbing Vote Buying During an Election, Illicit Financial Flows and Other Related Matters in Nigeria”.

He said: “It is worrisome to note that in 2018, statistics available to the EFCC shows that out of about 28 commercial banks in Nigeria, 10 banks evacuated out of Nigeria through Travelex Nigeria Limited the sums of GBP- 50,832,560; USD-8,057,756; EURO-39,986,560 and RAND-7,500,000. The reasons for these evacuations are still sketchy. We must note that the impact of illicit financial flows from the country undermine the stability and integrity of the financial institutions.”

According to Magu, intelligence reports have shown that banks are aiding their customers to receive foreign financial inflows to their accounts in neighbouring countries, where they have branches like Ghana, Republic of Niger and other West African countries.

“The money is then couriered into Nigeria through the land borders to circumvent declaration and reporting,” he stated.

ALSO READ  Venomous Snake Invades Couple’s Bedroom

Describing them as “gatekeepers”, Magu said no country could control illicit financial flows, without the cooperation of financial institutions.

Continue Reading
Comments

News

NIGERIA: Governors Arrive Abuja For NGF Meeting

Published

on

By

Governors from different parts of the country have arrived at the  Nigeria Governors’ Forum secretariat in Abuja for a meeting.

During the meeting, as reliably gathered,  the governors are expected to discuss the agenda for the next Federal Executive Council meeting and Local Government Funding, among other issues.

In attendance is the chairman of the forum and the Ekiti State Governor Kayode Fayemi, his deputy and Sokoto State Governor, Aminu Tambuwal.

Others are Benue State Governor Samuel Ortom; Anambra State Governor Willie Obiano; Jigawa State Governor Abubakar Badaru;  Akwa Ibom Udom Emmanuel; Delta State Ifeanyi Okowa; Adamawa Umaru Fintiri

ALSO READ  Venomous Snake Invades Couple’s Bedroom
Continue Reading

Health

Makinde lauds IUFMP initiative , promises to end flooding in Oyo

Published

on

By

Governor Seyi Makinde of Oyo state has expressed the readiness of his government to take proactive measures that would help put an end to flooding in the State.

Governor Makinde, who was represented by the Secretary to the State Government, Mrs. Olubamiwo Adeosun, made the pledge at the closing ceremony of the workshop on Ibadan flood forecast, early warning and implementation support programme held in the state capital, on Wednesday.

The Governor assured that his government would readily support the implementation of the Ibadan Urban Flood Management and other ongoing intervention projects in the state.

Contained in a statement signed by the Chief Press Secretary to the Governor, Mr. Taiwo Adisa, the Governor, commended the IUFMP on the flood forecast initiative, which he said: “will furnish our people with prior alerts about impending flood disasters”.

He stressed  that it was that a scientific initiative that would alert the people of the possibility of a looming flood disaster was being launched.

Governor Makinde, also described the Ibadan Urban Flood Management Project (lUFMP) as a people-oriented project set up to change the narrative of incessant and ravaging flood disasters, adding that the project was in consonance with his campaign promises.

The statement added that the Governor had at earlier meetings with the IUFMP team given assurances that Government would take necessary steps to protect the people while charging that the stakeholders on the project to ensure that all hands were on deck to achieve the effective implementation of the initiative.

ALSO READ  UNESCO standard in education is our target - Oyo SUBEB Chair

“Beyond building bridges, culverts, drain lines, and access roads which are on their own crucial towards ensuring the good life, we as a government also have a duty to give full support to the implementation of the IUFMP initiative that will furnish our people with prior alerts about impending flood disasters.

“This will enable our people to take proactive steps for the preservation of lives and properties. This is a step in the right direction and it will continue to enjoy maximum support of the State Government.

“It is pertinent that we are able to x-ray the factors that can ultimately protect our people from vulnerability to flooding, through adequate knowledge building and information flow on impending flooding and looming dangers. Such information, readily disseminated well ahead of time will save lives.
“I have been told that this workshop, which started yesterday is a two-day programme aimed at sensitising State officials, key stakeholder-agencies and representatives of communities situated along with flood-prone areas, while also informing high-level office-holders about the project,” the Governor said.
Governor Makinde further stated that the State would be expecting value for its investment in the project, which he noted should be in terms of “immediate gains in the area of safety of lives and properties, as well as measurable capacity building for our homegrown technocrats and public servants who would be required to sustain the initiative, post-IUFMP.”

ALSO READ  Real Reason Why Senate Suspends Confirmation Of EFCC, ICPC Nominees

Governor Makinde, however called on the operators of the project to ensure that the advantages of the project were transferred to other communities in the state through a form of knowledge transfer.

“As I have assured officials of the IUFMP before now, our government will continue to provide enabling environment for the success of other intervention works being carried out at different locations/communities within Ibadan. We expect that all such projects are delivered on schedule to enable our people reap the benefits,” the Governor submitted.

Continue Reading

News

Terrorists Kill Five Soldiers In Mali

Published

on

By

No fewer than five troops were killed in central Mali on Wednesday when their convoy was ambushed by jihadists, the armed forces confirmed.

The army on its Twitter feed said that the attack occurred on a road between the villages of Boni and Hombori.

“FAMA (the Malian armed forces) suffered five dead. Equipment was also destroyed,” it said.

A local official said gunfire was heard and another said “the jihadists… burned at least two military vehicles. At least two soldiers were also wounded.”

Northern Mali fell into the hands of jihadists in 2012 before the rebels were forced out by a French-led military intervention.

However, much of the region remains chronically unstable and since 2015 violence has spread to the centre of the country.

AFP

ALSO READ  EFCC Arraigns Two Suspects Who Duped UI Lecturer
Continue Reading

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

MEGAICON TV

Trending