We didn’t order closure of church accounts —CBN *Apex bank clears the air



The Central Bank of Nigeria (CBN) has vehemently denied media reports to the effect that it has ordered the freezing of the accounts of some religious organisations over alleged suspicion of links with terrorist groups.

The apex bank in a statement signed by its Director, Corporate Communications, Ugochukwu A. Okoroafor and issued this morning in Abuja, the Nigerian capital, explained as follows:

•That the CBN has NOT ordered the closure or freezing of the bank account of any religious body or any institution whatsoever as alleged in the publications and posts. There is, therefore, no iota of truth in these allegations.

•Prior to 2006, Nigeria was on the infamous list of the Non-Co-operating Countries and Territories (NCCTs) of the Financial Action Task Force (FATF), a global watchdog on financial crimes.

•Nigeria was removed from this undignified list on account of stringent actions taken by the Nigerian Government.

•However, by 2007, as a result of loopholes in Nigeria’s legal and regulatory system, the country was included in the ‘grey list’ of countries that had not made appreciable progress in their Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime by FATF. It was therefore incumbent on Nigerian authorities to ensure that her financial processes and procedures as well as the provisions of the Money Laundering (Prohibition) Act (MLPA) of 2011 and the Prevention of Terrorism (PTA) Act of 2011, were in conformity with FATF recommendations and international best practice.

•Consequently, all Designated Non-Financial Businesses and Professions (DNFBPs) operating accounts in all financial institutions in Nigeria were required to update their account information to ensure that their respective businesses and vocations were registered as stipulated by the relevant statutes.

•DNFBPs refer to dealers in jewelry, precious metals and stones, cars and luxury goods, audit firms, tax consultants, clearing and settlement companies, lawyers, notaries, other independent legal practitioners and chartered accountants, trust and company service providers (who provide services to third parties), hotels, casinos (including internet and ship-based casinos), supermarkets, real estate agents, non-governmental organisations (NGOs), religious and charitable organisations, or such other businesses or professions as the Federal Ministry of Trade and Investments, or appropriate regulatory authorities may, from time to time, designate.

•The only requirement to this effect is the presentation of evidence of registration, specifically, certificate of registration showing registration number with the Special Control Unit Against money Laundering (SCUML)

•On August 2, 2012, the CBN issued a circular requiring all such account holders classified as DNFBPs to update, within 6 months, their account information in their respective banks.

•This deadline was extended by another 3 months through another circular dated February 25, 2013.

•On June 18, 2013, following exhaustive discussions with various interest groups, the CBN conceded yet another 8-month extension to December 31, 2013, for all such account holders to comply.

•It is, therefore clear that the new deadline has neither come nor is the measure targeted at any institution or person, be it religious, financial or social.

•The circulars are in line with global best practice and consistent with the laws of the Federal Republic of Nigeria.

•Upon the expiration of this final deadline, the CBN shall ensure that FATF rules are complied with. We, therefore, urge all affected DNFBPs to comply as soon as possible.

•Photo shows CBN Governor, Sanusi Lamido Sanusi.

masu: This man is liar and a secret terrorist. Let me prove

imans and islamic leaders are not complaining on the said action which he deny that has not taking place bcus their account were not freezed
I get i first hand info from my church leaders that their bank account is fresed a day b4 i see it on the news.

The house of jacob will be growing bigger and bigger while that of esau will dwindling.
It will be done on us all if power returns to the north then we will know their true game plans.

eGuerrilla:

Source: http://www.newsexpressngr.com/

Policewoman: I don't get this news. Has it ever been reported that Churches fund terrorism? Why then will CBN close their accounts?

abankula: It is apparent that most Nigerians have been bastardly brainwashed to the extent that religious and ethnic sentiments are always attached to any policy made by the Government. No doubt, Nigeria belongs to us all. It is therefore imperative that we all abide by rules and regulations.

In all honesty, i have seen nothing wrong with the recent directives from CBN asking some organisations, including churches and mosques, to declare some basic pieces of information with regards to their financial account. However, it is particularly disheartening to note that some religious leaders are blindly against this directive.

Why would a law abiding organisation refuse to disclose the simple information required on its financial transaction? Is there anything these religious leaders are hidden? Are these religious leaders truely transparent as they want us to believe? Yes, these are the questions that should be asked by reasonables Nigeria.

The earlier we do away with religious and ethnic sentiment, the better it is for the development and growth of our country.

mathskill: Conjectures,Fear mongering and name calling are all signs of schizophrenia.You also exhibit symptoms of Sanusiphobis. I strongly advice you seek professional medical(don't go to a pastor for deliverance) attention for your illness."got first hand information from my church elders" is that evidence? Read the newspapers my friend. The questions to be asked is, is the Church the target?if a church has to be registered by the CAC why can't the CBN as for their accounts to be updated? Read the following excerpt from the Puch"The CBN circular, which was obtained by Saturday PUNCH, stated that the DNFBPs include religious and charitable organisations, dealers in jewellery, precious metals and stones, cars and luxury goods, audit firms, tax consultants, clearing and settlement companies, lawyers, notaries, other independent legal practitioners, chartered accountants and trust company service providers.

Others include hotels, casinos, supermarkets, real estate agents, non-governmental organisations, Federal Ministry of Trade and Investment or appropriate regulatory authorities.

It said, “In consideration of some challenges encountered by the Special Control Unit against Money Laundering as a result of the number of persons seeking to enjoy late compliance, the CBN has decided to further extend the second deadline of April 30, 2013 by eight months to December 31, 2013.”

The bank warned DNFBPs that were yet to register to take advantage of the extension or risk losing their accounts.

Under the new regime, the designated institutions are required to fill forms listing their shareholders and directors.

Religious organisations are registered under Act C of the Companies and Allied Matters Act which is for non-governmental organisations while the new regime has placed them under Act F, which applies to businesses.

They are also required to get their forms endorsed by the Economic and Financial Crimes Commission, as part of CBN’s ongoing tracking of sources of funds for Boko Haram and other terrorist groups in the country". If anyone is indirectly mentioned is in fact the Islamic religion as Boko Haram is mentioned which is synonimous with Islam(albeit wrong).
When You start taking your pills and their is remarkable improvement in your health please let me know so we can discuss further.

brownlord: How this extrimist got into such a sensitive position is what i dont know, btw i was thinkin this idiot would resign after his shameful act of recruiting staff in his hotel room and privat jet hired wit public funds

mathskill: Abuses and name calling again.why can't you respond point by point to the issues i raised.I guess you don't have the brain to comprehend what i wrote and respond accordingly.Half baked graduate.That is if you did not forge your result.

See who graduated with 1st class. OPONU AYIRADA.

what has EFCC and TERRORIST GOT TO DO WITH CHURCH?

YOUR SANUSI IS JEALOUS WITH THE MONEY IN THOSE ACCOUNTS BECAUSE HE IS YOUR FRIEND WITH PHD IN ISLAMIC STUDIES.

AGAIN, TELL ALL YOUR ALHAJI TO SUPPORT THE RELIGION NOT BOKOHARAM AND STOP HAVING AFFAIR WITH MARRIED WOMEN LIKE YOUR SANUSI. HIV AIDS IS REAL, IT DOES NOT KNOW MARRIED WOMEN.

Policewoman: I don't get this news. Has it ever been reported that Churches fund terrorism? Why then will CBN close their accounts?