News
Looted Funds: N45bn seized by FG, terrorist financiers identified
The Federal Government, on Thursday, said it has seized over N45 billion that was illegally looted from the national treasury.
It further disclosed that a number of individuals and entities linked to terrorist activities have been identified and designated, with funds traced to them also confiscated.
The Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, made the disclosure in his opening address at the 40th Technical Commission/Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa, GIABA, held at the State House, Abuja.
GIABA is a specialised institution of the Economic Community of West African States, ECOWAS, responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) strategies in West Africa.
In his presentation, the AGF, who spoke on behalf of Nigeria, said the President Bola Tinubu-led government was determined to build on successes that were recorded by past administrations in the country, especially in areas of investigation and prosecution of corruption cases.
He said: “In 2022, we increased the budgets for the Economic and Financial Crimes Commission, Independent Corrupt Practices Commission and National Drug Law Enforcement Agency by almost 95%.
“We now have over 1,500 officers dedicated to investigating and prosecuting money laundering across these three agencies alone.
“These sustained investment has seen increased numbers of investigations, prosecutions and convictions consistently since 2021 with 5,118 investigations, 1,509 prosecutions and almost 500 convictions secured resulting in over 45 billion naira of illicit proceeds seized.
“We have also made progress in tackling the financing of terrorism and in particular, I am pleased that we have identified and designated a number of individuals and entities linked to terrorist activity and seized funds linked to them.
“The Nigerian Financial Intelligence Unit (NFIU), has become a global model and achieved the outcomes envisaged by the passage of its enabling legislation in 2018 which established it as an independent, autonomous unit.
“The measures I have outlined and our future ambitions are underpinned by a rigorous analysis of the money laundering, terrorist financing and proliferation financing risks we face as a country,” the AGF stated.
Stressing that there are myriad of challenges facing the West African sub-region, ranging from the threats of illicit financial flow to the existential dangers posed by terrorist groups, the AGF, said there was greater need for enhanced international collaborations.
“As global risks become more complex, and technology more embedded as well as borders increasingly fragile, we must move towards a more tailored approach to responding to this new ML/TF/PF environment.
“I believe that without a truly equitable and effective system for international cooperation, we are fighting the enemy with one hand tied behind our backs.
“I therefore urge GIABA to effectively pursue this mandate on behalf of our member states,” he added.
Meanwhile, in his opening remarks, the Director General of GIABA, Mr. Edwin Harris Jr., said the organisation would continue to offer technical support to Nigeria.
However, the GIABA boss said there was need to restrict the physical movement of criminals and terrorist associates within the sub region.
“In this regard, it becomes a more pressing need that the Secretariat works with member States in enhancing effectiveness compliance that will lead to more actions that create deterrence.
“Over the coming years going into the third round, the Secretariat will work with member States on Assets Recovery that includes all phases that is freezing, seizure, confiscation, management, and disposal with the ultimate goal of denying the criminal the use of the proceed of crimes.
“I urge member States to create a mechanism that takes away profits from criminal activities. This mechanism should now form core part of our fight against Money Laundering and Terrorist Financing and other transnational crimes.
“It becomes more imperative that the mandate of GIABA restricted to fighting Money Laundering and Terrorist Financing in keeping the economies of West Africa safe be visited to include other major component in keeping with emerging trends and current day realities.
“I sincerely think that incorporating Asset Recovery as one of the valuable tools of deterrence in our mandate will add value to our work and serve as major deterrence to criminals whose primary aims are to contaminate our financial system for personal gains.
“It is in this direction GIABA will start a critical conversation with member States and stakeholders in creating a regional sanction regime for the community that will seek to denied, block the movement of the proceed of crimes in the community and also restrict the physical movement of criminals and terrorist associates within the region.
“GIABA member States implement other secondary sanctions within our financial system such as the OFAC and the EU, hence, it is now imperative that we have an ECOWAS sanction that helps curtail the movement and assist in recovery of the proceed of crimes.
“GIABA will continue to work with both financial, development and technical partners to support its members,” he added.
Among dignitaries at the event included the Vice-President of the Financial Action Task Force, FATF, Mr. Jeremy Weil, representative of the President of the ECOWAS Commission, Mr. Mambury Njie, as well as the Director of the Nigerian Financial Intelligence Unit, NFIU, Mr. Tukur Modibbo.
“If You Have Evidence Against Stanley Mbam, Charge Him; Otherwise, Release Him” — Oganiru Izzi
A socio-cultural organisation of Izzi extraction, Oganiru Izzi, has challenged Ebonyi State Governor, Chief Francis Ogbonna Nwifuru, to either release the state’s sacked Commissioner for Works, Mr Stanley Mbam, or charge him before a competent court if the government has credible evidence of wrongdoing against him.
The group said the continued detention of the former commissioner without a formal charge raises concerns about due process, constitutional rights and the rule of law.
The leader of Oganiru Izzi, Mr Godwin Mbam, made the demand while speaking with correspondents of National Issue Newspapers at the Crack Department of the Ebonyi State Police Command in Abakaliki.
Mbam condemned what he described as the prolonged detention of Stanley Mbam without allowing a court to determine whether he had committed any offence.
He challenged the state government to produce evidence if it believes the former commissioner committed a criminal offence.
“If there is credible evidence against him, charge him to court and let the court decide. If there is no case against him, he should be released,” Mbam said.
He also appealed to the Ebonyi State Police Command to uphold the Constitution and resist any pressure that could result in unlawful detention.
Vanco Flyover: “We Will Reveal the Full Details”
Mbam also issued a three-day challenge to Governor Nwifuru, declaring that if the former commissioner was not released or charged to court, his organisation would make public what it described as the “full details” of the Vanco Flyover project.
According to him, the proposed disclosure would address issues surrounding the project, including its funding, payments, contractual arrangements and other financial details.
“We will let the world know the full details of the Vanco Flyover and how the funds were utilised,” he warned.
He further challenged the state government to demonstrate transparency by making relevant documents concerning the project available to the public.
“What About the Alleged ₦1.5 Billion Forfeiture?”
The Izzi group also questioned what it described as the selective application of the state government’s anti-corruption campaign.
Mbam referred to allegations involving an account reportedly frozen by the Economic and Financial Crimes Commission (EFCC) and an alleged ₦1.5 billion forfeiture to the Federal Government.
He questioned why, according to him, the governor had allegedly not taken similar action if the facts surrounding the matter warranted it.
Mbam stressed that he was not opposed to the fight against corruption but insisted that any anti-corruption campaign must be comprehensive, transparent and applied equally.
“If Governor Nwifuru wants to fight corruption, let him fight it holistically. Nobody should be targeted while other serious allegations are ignored,” he said.
“If Nwifuru Says He Knows Nothing, We Will Produce the Facts”
Mbam further challenged Governor Nwifuru to publicly state whether he was aware of alleged corruption issues within the Ministry of Works.
“If Nwifuru publicly claims that he is unaware of corruption in the Works Ministry, I will make public the facts available to me. The facts will shock the state,” he declared.
He insisted that the matter should not degenerate into a political vendetta, arguing that the appropriate place to determine criminal liability is a court of law.
According to him, the people of Ebonyi State deserve clear answers concerning the Vanco Flyover and other issues involving public funds.
“Everybody Should Be Subject to the Law”
The Oganiru Izzi leader maintained that the controversy should be resolved through transparency, documentary evidence and due process.
“If there is a case, charge him. If there is no case, release him. The government cannot claim to be fighting corruption while abandoning the principles of justice and the rule of law,” he said.
Mbam warned that failure to address the issues could compel the organisation to make further disclosures concerning the Vanco Flyover and other matters it considers to be in the public interest.
By Our Correspondent
As Nigeria celebrates its 66th Independence Anniversary, the candidate for the House of Representatives seat representing the Ezza South/Ikwo Federal Constituency, Hon. Chief Kevin Tobias Chukwu, has called on Nigerians to remain hopeful and committed to building a better country.
Chukwu, also known as Ochiri Ozua 1 of Amagu Ikwo, made the call in an Independence Day message to Nigerians, particularly the people of Ezza South/Ikwo Federal Constituency and Ebonyi State.
He described the anniversary as not only a moment for celebration but also an opportunity to reflect on the state of the nation and the responsibilities of leaders in building a Nigeria that meets the aspirations of its citizens.
According to him, Nigeria’s journey since independence has been marked by significant challenges, with millions of citizens currently facing economic hardship, while young people continue to search for opportunities and many communities contend with insecurity and uncertainty.
Despite these challenges, the Ebonyi politician said the resilience of Nigerians remained a source of hope for the country’s future.
“I believe in the resilience of our people. I believe in the ingenuity of our youths, the strength of our women, the wisdom of our elders and the determination of ordinary Nigerians who wake up every morning and refuse to give up on this country,” he said.
Chukwu, however, stressed that hope must be matched by responsible leadership, arguing that public office should be viewed as a responsibility rather than a privilege.
He called for leadership that prioritises the protection of lives, creation of economic opportunities, provision of infrastructure, strengthening of institutions and responsible management of national resources.
The candidate also emphasised the need to create an environment where young Nigerians can pursue successful lives within the country and where hard work, merit and enterprise are rewarded.
He said Nigeria had “come too far to surrender to hopelessness,” urging citizens and leaders alike to remain committed to the country’s progress.
“A better Nigeria is still possible, but it will require responsible leadership, accountable institutions and citizens who refuse to give up on their country,” he said.
Chukwu concluded by expressing optimism about Nigeria’s future, declaring: “Nigeria will rise. Nigeria must rise. And together, we must build the Nigeria we deserve.”
He also paid tribute to the nation’s past heroes, praying that their sacrifices would continue to inspire the country.
“May the labour of our heroes past never be in vain,” he said, as he wished Nigerians a happy 66th Independence Anniversary.
By Okey Maduforo, Awka
As Nigeria celebrates its 66th anniversary of independence from colonial rule, democracy in the country has continued to evolve and deepen, the Anambra State Chairman of the All Progressives Congress (APC), Senator Emma Anosike, has said.
Anosike made the observation in a message to mark Nigeria’s Independence anniversary, noting that despite the challenges the country had encountered since 1960, its democratic system had continued to improve under successive administrations.
According to him, since the return to democratic rule in 1999, Nigeria has witnessed relatively smooth transitions from one administration to another, while citizens have continued to exercise their fundamental rights to hold governments accountable for their performance.
“Before the return of the democratic process, it was indeed difficult and near taboo to challenge the leadership of the country, and those who may have attempted it in the past faced grave consequences.
“Similarly, we have had smooth transitions from one dispensation to another, producing five presidents through the ballot and not through the barrel of the gun. These elected presidents were produced by different political parties.”
Anosike said the administration of President Bola Ahmed Tinubu had sustained the country’s democratic principles and created an avenue for Nigerians, irrespective of tribe, race or religion, to express their views on government policies and programmes.
“Under the stewardship of President Bola Ahmed Tinubu, Nigerians have been enjoying the freedom to express themselves over issues, policies and programmes of government, and those expressions have been shaping and guiding the administration of Mr President,” he said.
The APC chairman said Nigeria’s 66th independence anniversary provided an opportunity for citizens to reflect on the country’s journey as a nation and the progress made since independence.
He said President Tinubu’s Independence Day broadcast had offered another opportunity for Nigerians to renew their hope for a greater and more prosperous country.
Anosike also commended what he described as the “enormous infrastructural development” taking place across the country under the Tinubu administration.
He urged Nigerians to continue to support and have faith in the administration as the country approaches the 2027 general elections.
An Elder Statesman, Chief Hycienth Ngwu, has called on political leaders and policies formulators to ensure governmental policies and programmes directly touch lives of the people and reduce hardship in the country.
Ngwu, who is a prominent community leader in Enugu, urged Nigerians to maintain peace within neighbourhoods and communities, as no meaningful development can take place without peace.
The statesman made the call on Thursday in Enugu while reacting to the developmental efforts of Nigeria at its 66th Independence.
He said that previous and present administrations had put in place policies and programmes to reset the socioeconomic fabric of the nation.
Ngwu said that while the removal of fuel subsidy, and unification of the foreign exchange had good intentions, their impact is yet to reflect on the lives and livelihoods of vast majority of Nigerians.
He urged leaders to ensure that public resources were properly managed while citizens remained patient with reforms aimed at improving the socioeconomic status of the country.
The elder statesman noted that at 66th independence, the country was still struggling on keeping its peace and co-existence as a country; adding that the founding leaders of Nigeria envisaged a closely united, bonded and peaceful country.
He called for return to policies that promote local production, indigenous industries and entrepreneurship, arguing that excessive dependence on imports had continued to weaken the country’s productive capacity.
According to him, we are yet to achieve economic independence even as we needed to do more on non oil revenue earns as the greater part of the world is moving towards greener and clean energy.
“Greater emphasis should be on skills acquisition, creativity and entrepreneurship education system, as academic qualifications without practical skills could leave graduates dependent on scarce white collar jobs.
“We ought to be economically productive nation capable of producing and exporting goods while developing its human capital,” he said.
Ngwu noted that current insecurity and social instability could be partly attributed to poverty and ignorance, while calling for greater honesty and trust between leaders and citizens.
“Corruption, tribalism and selfishness must be addressed if Nigeria is to achieve peace and lasting progress,” he added.
He also called for the scrapping of state electoral commissions as they have not helped in deepening democracy at that level. The National Election body should take over that responsibility.
As Nigeria marks its 66th Independence Day, Macmaduson Concepts Limited, a leading provider of HVACR,industrial parts, sensors, electrical and plumbing materials, has extended warm Independence Day greetings to its customers, clients and business partners across the country.
In a goodwill message to mark the occasion, the company expressed appreciation to its valued customers for their continuous support, trust and partnership over the years.
Macmaduson Concepts Limited, which specialises in HVACR,Industrial Materials, sensors, air-conditioners, refrigerators, cold rooms, chillers, refrigerants, electrical materials and plumbing materials, said the occasion provides an opportunity to celebrate Nigeria and reflect on the nation’s journey.
The company wished Nigeria continued growth, unity, peace and prosperity, while expressing hope for a brighter future for all Nigerians.
The message from the company reads in part:
At Macmaduson Concepts Limited, we celebrate our great nation, Nigeria, and appreciate our valued clients for their continuous support, trust and partnership. May Nigeria continue to grow in unity, peace and prosperity.”
The company concluded its Independence Day message with the theme: “One Nation, One People, A Brighter Tomorrow.”
Happy Independence Day, Nigeria!
Happy 66th Independence Anniversary from Macmaduson Concepts Limited.
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