Ibrahim Lamorde, chairman of the Economic and Financial Crimes Commission, EFCC, has stated that currency declaration by travellers out of Nigeria amounted to $12.058 billion in three years.

He made the disclosure in Abuja at the opening ceremony at the opening ceremony of a five-day inter-agency training programme on, Cross Border Financial Investigation organized by the United States Department of Homeland Security.

It was organised for officers of the Nigeria Police Force, NPF; Nigeria Immigration Service, NIS; Nigeria Customs Service, NCS; National Drug Law Enforcement Agency, NDLEA, and the EFCC..

Lamorde said currency declaration in 2012 was $9.9 billion. In 2013, it dropped to $1.324 billion as Nigeria stepped up surveillance at the airports.

“There was a further drop in 2014 as currency outflows recorded an all- time low of $807,585,061.70″.

He called for improved financial intelligence gathering by the anti-graft agency and other law enforcement agencies in the country to check flow of illicit funds, if the war on terror must be won.

“A reputable strategy to fight insurgency is to deprive the insurgents of funds, because there is no dispute that illicit funds movement across borders fuels organized crimes, including terror attacks and insurgency in Nigeria,” Lamorde said.

According to him, “There is an urgent need to strengthen our financial intelligence architecture to enable us effectively monitor cash trails and check illicit cash flow to organized criminal gangs.”

“Up till now, the major concern in the fight against insurgency is on how the insurgents fund their operations within the sub-region.”

“While tremendous progress has been recorded in strengthening the Anti-Money Laundering Regulations and the Compliance Regime in Nigeria, monitoring the movement of cash outside the financial sector, remains a major challenge, because of Nigeria’s predominantly cash-based economy,” he said.

The EFCC boss, also applauded the commitment of the United States government in assisting Nigeria surmount its contemporary challenges through institutional development.

“it is gratifying that this programme is coming a few weeks after the historic visit of President Muhammadu Buhari, to the United State, where he and President Barack Obama pledged to deepen the cooperation and friendship between our two countries”.

Lamorde who said he had always considered the United States as a dependable ally in the fight against economic crimes and corruption in Nigeria, explained that the record of partnership between the EFCC and major US institutions, such as the Department of Justice, Federal Bureau of Investigation, FBI, United States Postal Inspection Service, United States Secret Service, among others, bears testimony to this.

He said the EFCC has benefitted from many training programmes organized by US agencies in Nigeria, Ghana, Malta, Botswana and the United States. He however described the impact of such exposure on the operations of the Commission as invaluable.

He said while tremendous progress has been recorded in strengthening the anti money laundering regulation and compliance regime in Nigeria, monitoring the movement of cash outside the financial sector, remains a major challenge, considering that Nigeria is still predominantly a cash-based economy.

His solace is however in the fact that the EFCC, in collaboration with the Nigeria Customs Service and the National Drug Law Enforcement Agency, NDLEA, have in the last few years taken very bold step to check illicit movement of cash across our borders; where operatives stationed at major international airports across the country have intercepted millions of dollars in cash, which were not declared to customs by their owners.

Deputy Chief of Mission, United State Embassy, Maria Brewer said that the training programme will expose participants to new trends and techniques in combating economic and financial crimes. “Since economic and financial crimes is a global phenomenon, the training will focus among others, on taking away proceed of crime, because when you take away the money, you take away why people do crime”, she said.

Other dignitaries at the opening ceremony included, Benjamin Bryan, acting director, International Narcotics and Law Enforcement US Mission Abuja; Steve Robinson, Attaché, Department of Homeland Security Investigation, DHSI; T. A. Hundeyin, Deputy Comptroller General of Immigration, who represented the NIS boss, and Alhaji Hamisa Lawal, Commander of Narcotics, who represented the NDLEA boss.

Highpoint of the ceremony was the donation of a high-tech counting machine to the EFCC. Brewer, who made the presentation on behalf of the US government, said that it was one way, in which the President Barack Obama-led administration, planned to assist the EFCC and the country at large in fighting corruption.


http://dailypost.ng/2015/08/18/12billion-taken-out-of-nigeria-in-three-years-efcc-boss-lamorde/

Ah such amount of money taken out under your watch is a testament to your failure

Oga Jo was simply the most corrupted Nigerian president ever...

What if I say 'that man knows about it' ?










He does of course, since he is d head of "STEALING IS NOT CORRUPTION"

Oga Jona why Oga Jona why

during Goodluck jonathan tenure as president of nigeria. the definition of democracy was "GOVERNMENT OF THE CORRUPT, BY THE CORRUPT, AND ONLY FOR THE CORRUPT". That was the main reason why he said that stealing is not corruption

Okay

DIAMO1:
Oga Jo was simply the most corrupted Nigerian president ever...

na world best him be for Corruption!

we have heard...

Am really tired of all these talks.. No action..
Where was Mr EFCC when the said crime was taking place..
Sleeping on duty?..... Smh

And how much was taken out during obasanjo's regime ?

Really?
Buhari needs to probe this EFCC Boss if genuinely he meant the War Against Corruption. If he is incapacitated to responsibly, effectively and efficiently deliver is job(s), then why couldn't he walk away?
Why was he silent and just receiving salaries while the National Coffer was under Mass-Looting?
He should follow the footstep of Custom Boss and do the needful honorably!

DIAMO1:
Oga Jo was simply the most corrupted Nigerian president ever...

Make sure u have all the details
Before making such claims..
People can b held responsible for wat they say

If the monies were duly declared and legally taken abroad, why the hue and cry by Lamorde? If Lamorde had suspected money laundering or theft, or whatever, was it not his duty to arrest and prosecute?

I tire for Nigerians. Everybody wants things to be done right but nobody is doing the right thing. We specialize in deceitful righteousness. Tufiakwa!

saintikechi:
And how much was taken out during obasanjo's regime ?

Face topic abeg.. If we are to make the comparism in truth, OBJ stole a cat and GEJ stole a Tiger..And this is not obasanjo talking, its lamorde..so the comparism is unwarranted. U guys jst can't do without comparing GEJ's regime with OBJ's. Is this ya new way of saying GEJ is not corrupt? Or let's even "assume" OBJ stole more, does that justify GEJ's attrocities?

All these mumu will just be calling billions as if its paper. Mitcheeeew

DIAMO1:
Oga Jo was simply the most corrupted Nigerian president ever...

Idiot, why can't you read before commenting.

Little wonder WAEC result keep getting worse each passing year.

adeyemi2015:
Really?
Buhari needs to probe this EFCC Boss if genuinely he meant the War Against Corruption. If he is incapacitated to responsibly, effectively and efficiently deliver is job(s), then why couldn't he walk away?
Why was he silent and just receiving salaries while the National Coffer was under Mass-Looting?
He should follow the footstep of Custom Boss and do the needful honorably!

Did you read the article at all?

The monies were not taken out illegally, they were declared. Lamorde was just giving statistical data.

Everyone just keep bringing up figures. The earlier you leave the man the better for y'all. It is almost 3 months already.

Nigerians have a very serious reading problem

This issue has nothing to do with Jonathan or even corruption; these are moneys which were legally declared by law abiding citizens. The real problem is knowing how much left the shores of Nigeria illegally.

Look at ds man who is suppose 2 fight corruption. Shame 2 u. Its ur job 2 stop the transfer.

DIAMO1:
Oga Jo was simply the most corrupted Nigerian president ever...

f00l

sunnyb0b0:

Did you read tge article at all?

The monies were not taken put illegally, they were declared. Lamorde was just giving statistical data.

Whether they were declared or not, he should be probed for failing to perform his responsibilities.
Was the money used for the benefits of the Nigerian Masses?
Was the money not looted by the Cabals?
He's receiving Salaries and Arrears to curtail misappropriation of the public fund, not to give analysis on how the money are siphoned through a legal or illegal means respectively!

The topic is quite misleading

Blakjewelry:
The topic is quite misleading

hmm..how o? Are the years he mentioned not during GEJ's regime?

adeyemi2015:

Whether they were declared or not, he should be probed for failing to perform his responsibilities.
Was the money used for the benefits of the Nigerian Masses?
Was the money not looted by the Cabals?
He's receiving Salaries and Arrears to curtail misappropriation of the public fund, not to give analysis on how the money are siphoned through a legal or illegal means respectively!

And who told you the monies were stolen money? So a business man, a student, a tourist who travels with cash and declares it at the point if exit is a looter?

The data decreases in the amount of cash taken out of the country as the years go by which is in consonance with developments in our banking industry as regards efficiency of wire transfer and online banking.

midolian:
Face topic abeg.. If we are to make the comparism in truth, OBJ stole a cat and GEJ stole a Tiger..And this is not obasanjo talking, its lamorde..so the comparism is unwarranted. U guys jst can't do without comparing GEJ's regime with OBJ's. Is this ya new way of saying GEJ is not corrupt? Or let's even "assume" OBJ stole more, does that justify GEJ's attrocities?

And when buhari leaves, we will hear how much he stole. The duara dullard is not a saint.

saintikechi:


And when buhari leaves, we will hear how much he stole. The duara dullard is not a saint.

T.pain!

And you did nothing.....

Actually....millions were taken out of Nigeria, not just during the last six years....but also since independence....because Nigerians, in the word of a commentator, would ''rather suffer the bad effects of corruption than see a kinsman jailed''.

I hate to be cynical, but nothing is going to come out of the new anti-corruption drive. Because Nigerians sadly are not ready to see their kinsmen and women jailed for corruption.

Awon ole jatijati