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Thousands Of Dollars Laundered Out Of Nigeria Every Hour — Interpol

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Nigeria is losing thousands of dollars to money laundering every hour, according to Garba Umar, Vice-President of Interpol (Africa).

Speaking at a workshop for law enforcement agencies at the EFCC academy in Abuja on Monday, Umar emphasized the alarming scale of illicit financial outflows from the country.

“Evidence has shown that every hour, hundreds of thousands of dollars are flowing out of Nigeria to the region (Africa) and across the world, laundered before it reaches the pockets of criminals to enjoy the profits of their crimes, while the hardworking and honest Nigerians pay the price of crime,” Umar said.

“With every successful laundering of criminal money, our country becomes more prone to crime.

“More drugs, more fraud, more corruption and more violence. Every time criminal money is successfully laundered, our financial institutions take an additional blow.”

Umar said Interpol will come down hard on money launderers with the launch of ‘Silver Notices’, which intends to make illicit funds more difficult to launder in any part of the world.

Umar said financial crimes are transnational and law enforcement agencies need regular training to intercept fraudsters.

He said the workshop will provide an opportunity for security agents to re-examine the challenges of fighting transnational crimes in the country, reassess their strategies, and “reaffirm our determination and unity as a country to provide security to our citizens and by extension the global community”.

Also speaking, Ola Olukoyede, chairman of the EFCC, said collaboration is essential in tackling financial crimes.

Represented by Francis Usani, director of fraud risk assessment and control at the EFCC, Olukoyede said the fight against corruption is complex and requires the support of stakeholders.

“The daunting nature of the fight against corruption in Nigeria and the world at large deserve serious collaboration among organisations saddled with the responsibility of fighting corruption,” he said.

BIG STORY

President Tinubu Congratulates Dele Alake On 68th Birthday

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President Bola Tinubu congratulates the Minister of Solid Minerals Development, Dele Alake, on his 68th birthday.

President Tinubu celebrates his long-time ally, buddy, brother and invaluable partner for his support throughout his political journey as Senator, Governor of Lagos State, Presidential candidate and President of the Federal Republic of Nigeria.

The President says he cherishes working closely and collaboratively with Alake in more than three decades.

The President thanks Alake for his candid counseling and unwavering support, which have provided invaluable guidance during challenging times in public office.

He notes that Alake’s staying power in the various roles he has handled in his lifetime has been rooted in his honesty, passion, tact, determination and exceptional public relations.

President Tinubu is confident that the Minister will continue to uphold his high standards of excellence in service to the nation.

He joins family, friends, and well-wishers in offering prayers for Alake’s continued success and well-being.

 

 

 

 

 

 

 

 

 

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BIG STORY

Local Government Election Holds In Rivers Despite Police Absence [PHOTOS]

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The local government election in Rivers State is currently underway, notwithstanding the notable absence of police personnel to oversee the process.

Sources reveal that sensitive materials have been successfully distributed across various local government areas.

Governor Siminalayi Fubara remains resolute in his determination to conduct the election, despite escalating tensions within the state.

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BIG STORY

JUST IN: Explosion Rocks Rivers APC Secretariat As Local Government Poll Holds

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An explosion occurred at the Tony Okocha-led secretariat of the All Progressives Congress (APC) in Rivers State, located along Aba Road, Port Harcourt, on Saturday, October 5, 2024, during the local government election.

The explosion damaged the gate and doors of the secretariat, along with other property. According to Tony Okocha, Chairman of the APC faction in Rivers State, “About 3:20am some gun-trotting young men with their explosives and all that, came here and dropped the first explosive,” but when it did not detonate, “they came back the second time to burn the structure – look at the security house is gone.”

Okocha alleged that the attack was politically motivated, accusing Governor Siminalayi Fubara of responsibility. He stated, “It was deliberate to see how they can annihilate us, it is deliberate to see how they can embarrass us, it is deliberate to see how they can decimate us.”

Despite the incident, accreditation and voting have commenced in several polling centres around Port Harcourt City.

More to come…

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