Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Lamorde, has described money laundering as a threat to the economy.  He  urged major players in the financial sector to co-operate with law enforcement agencies in combating the menace.

He lamented that a whopping $50 billion is lost to money laundering in Africa alone.

He gave the charge at the Chartered Institute of Bankers of Nigeria’s, (CIBN) Anti-Money Laundering workshop held at the Reiz Continental Hotel, Abuja yesterday.

Lamorde, who was represented by his Director, Finance and Accounts, Bukar Abba, described money laundering as an evil that requires collective and concerted efforts to tame.

“Money laundering is a cross-jurisdictional crime that, while obviating natural and artificial national boundaries, actually serves to bring nations together in one global crime-fighting network,” he said.

While lamenting the impact of illicit financial flows from Africa, he said that an estimated $50billion is lost by the continent in illicit financial flows, thus necessitating the important roles of players in the financial sector in combating money laundering.

“These flows relate principally to commercial transactions, tax evasion, criminal activities including money laundering; drugs,  arms and human trafficking; bribery, corruption and abuse of office,” Lamorde further stated.

Quoting from the December 2014 report of the Global Financial Integrity, titled Illicit Financial Flows From The Developing World: 2003 to 2013, the EFCC boss noted that the statistics are enough cause for worry.

“I believe that more than ever before, there is the need for a concerted push to deal a telling blow to the criminals in our midst, and we must come to the realization that money launderers never stop re-inventing themselves,” he said.

In his paper, Anti-Money Laundering Legislation in Nigeria, New Regulations and Guidance Notes, Bala Sanga, the Project Coordinator (Anti-corruption) of the United Nations Office on Drugs and Crimes, noted that many players in the financial sector, have provided a platform for politicians to be corrupt.

“There’s the need for financial institutions to strengthen and enhance proper collation of customers’ data, and to ensure proper diligence on customers,” Sanga said.

Dilemma for police over detained suspect

• Operatives yet to determine status of mob victim

By CHRISTOPHER OJI

A 26-year old armed robbery suspect, Tunde Adewale narrowly escaped death recently when he was attacked by irate mob in Ijegun area of Ikotun in Alimosho Local Government Area of Lagos State.

The police are at  a dilemma and yet to determine if indeed he was saying the truth.

According to investigation, Adewale was abandoned by his two other members of his gang, who escaped on a motorcycle when the alarm was raised over their nefarious activities.

The suspect was beaten to stupor and thrown into a nearby bush beside the road in  Ijegun.

He was, however, rescued by a police patrol team from Ikotun when the operatives discovered that he was still breathing.

Adewale was transferred to the Special Anti-Robbery Squad (SARS) in Ikeja for thorough investigation and prosecution.

According to the police,  “Adewale had been under intensive medical care because he could not talk when he was brought to SARS and for the investigation to be comprehensive, he must be treated in order to be of sound mind for us to get the right information to assist the police.

“ You can see that it is the treatment that he had been receiving since they transferred him here that even enabled him to talk and the worse is that he is a liar and an illiterate.

“I am surprised that he is talking well like a healthy human being, showing that he has recovered.  He was transferred here almost half dead, but we were able to revive him.”

Adewale said: “I am an Okada rider in Ikotun. I was carrying two passengers from Ijegun community, they stopped me halfway and brought out knives and cutlasses, claiming to be cult boys. I became afraid and locked my motorcycle and asked them why they stopped me since they have not reached their destination.

On reasons none of his relatives came to bail him, the suspect said: “My brother is in Osun State. I am the only one in Lagos. It happened around 12  noon. I am not an armed robber.

However, police source doubted the defence of Adewale as the operatives wondered why a mob would mistake him for a robbery suspect.”

“As I was talking, one of them snatched my motorcycle’s key and moved to escape with it. As he wanted to drive away with the second person I started dragging my motorcycle with them, but they succeeded in overpowering me and sped off.

“When I was crying for help, the people from the area gathered round me, calling me thief, thief, and before I knew it, they started beating me.

“Look at my eyes, mouth, the face, I was beaten almost to death. They thought I was dead and pushed me into the bush by the roadside.

Luckily, policemen on patrol saw my helpless situation and carried me to their station and later transferred me to SARS Scorpion House when they noticed that I was still breathing.

“I am from Ire village in Orewole Local Government Area of  Osun State. I am an okada rider. I was mistaken for a robber when the two boys I was carrying snatched my motorcycle and claimed to be cult boys. I am married with a child.

“What happened was that I carried two passenger from Ikotun 7 and 8 area to Ladipo side. The two passengers wanted to drop and one of them collected my okada key and I saw cutlass with them.

“I was badly beaten before police picked me up. They tore my shirt before beating me. I did not know who beat me because they were many. It was after serious or intensive medical attention in SARS that I regained consciousness. I was brought here unconscious.

http://sunnewsonline.com/new/?p=116189

Cc Lalasticlala
Ishilove

wetin concern Adewale case with this EFCC matter now?