Connect with us

News

Money Laundering: CBN Places Cameroon, Vietnam, Croatia On Watchlist

Published

on

The Central Bank of Nigeria has asked Deposit Money Banks and Other Financial Institutions in the country to increase monitoring of transactions with businesses and persons in and from Cameroon, Croatia and Vietnam.

This was according to a circular referenced: FPR/AML/PUB/BOF/001/029, which was issued, on Thursday, by the Director, Financial Policy and Regulation, Mr Chibuzo Efobi.

Advertisement

According to CBN, Nigerian banks and other financial institutions need to watch transactions with those countries because they had been recently placed on a grey list by the Financial Action Task Force.

The Financial Action Task Force is an international body whose purpose is to develop and promote measures to combat money laundering, terrorist and proliferation financing.

READ ALSO: CBN Limits Daily Transactions Via Contactless Payments

Advertisement

Any country under increased monitoring is actively working with the FATF to address strategic deficiencies in its regime to counter money laundering, terrorist financing, and proliferation financing.

The apex bank also said that the Democratic People’s Republic of Korea, Iran and Myanmar remain on the list of high-risk jurisdictions, which banks should closely monitor.

The Circular reads in part, “The attention of banks and other Financial Institutions is drawn to the outcomes of Financial Action Task Force Plenary conducted from June 21-23, 3023 and subsequent addition of Cameroon, Croatia and Vietnam to the list of jurisdictions under ‘Increased Monitoring.’

Advertisement

“Furthermore, Democratic People’s Republic of Korea, Iran and Myanmar remain on the list of high-risk jurisdictions, subject to ‘Call for Action.’

READ ALSO: BREAKING: Tinubu Makes Fresh Appointment

“Consequently, enhanced due diligence should be applied and in severe cases, counter-measures may need to be implemented to safeguard the international financial system.”

Advertisement

The CBN added that Russia remains suspended from the FATF, and banks need to stay vigilant and beware of any risks from transactions with the listed countries.

“Additionally, we would like to emphasise that the suspension of the Russian Federation from the FATF remains in effect.

“FIs are to be vigilant to and be alert to possible emerging risks resulting from the circumvention of measures taken to protect the international financial system.

Advertisement

READ ALSO: Probe Begins As Rampaging Cultists Kill Three In Lagos

“In light of these developments, FIs are directed to note all additions to jurisdictions under ‘Increased Monitoring,’ as well as, high-risk jurisdictions subject to a ‘Call-for-Action’ and take necessary measures to mitigate these risks effectively,” the CBN said.

Earlier in February this year, Nigeria was also grey-listed by the FAFT.

Advertisement

A recent statement from the Nigerian Financial Intelligence said the country’s positive push to get out of the grey list has compelled the FATF to slash Nigeria’s 84 identified deficiencies to 15.

Advertisement

News

INEC CVR: CSO Expresses Worry Over Poor Deployment Of Machines, Manpower To LGs In Edo

Published

on

By

By Joseph Ebi Kanjo

Edo Civil Society Organisations (EDOCSO) has expressed worry over the poor deployment of capturing machines and manpower to Igueben Local Government Area of the state by the Independent National Electoral Commission (INEC) in the ongoing Ongoing Continuous Voters Registration (CVR).

Advertisement

The Coordinator, EDOCSO, Igueben Study Centre, Leftist Enabulele Larry, and Secretary, Leftist Mark Akande expressed the CSO sentiment when the duo visited the INEC headquarters in Igueben where the CBR in the local government is taking place.

In a statement made available to INFO DAILY on Friday, the leadership of EDOCSO, Igueben Study Centre condemned the “use of only two capturing devices in a local government with over 69, 396 in population.”

READ ALSO:Things To Know As INEC Begins Physical Voter Registration Monday

Advertisement

The duo noted in the statement that their findings at the INEC headquarters revealed two capturing machines were deployed to each local government across the 18 local government areas of the state.

The civil society members said INEC excuse of deploying two capturing machines to each local government was not germane enough because many do not have a computer or android phone to do the online registration INEC gave as an excuse.

The question here is, what is the percentage of our people mostly the aged individuals, that have access to Android mobile and other internet gadgets in Edo state?

Advertisement

READ ALSO: ADC: Why INEC Has Not Recognised David Mark, Others

“How many people can afford internet data to enable them have access internet services in Edo state under the current excruciating economic pains by the people?

“How many of the Edo people can even manipulate the Android mobile phone to the extent of navigating the internet hurdles to undertake the job is INEC? If INEC is not ready for the job, they should tell Nigerians.

Advertisement

“If citizens are now advised to individually undertake the statutory job of INEC, of what purpose does the commission serve to the people? etc,” they said.

As at when filing this report, INFO DAILY was yet to get a reply from the message sent to the INEC in Edo for reaction.

 

Advertisement

Continue Reading

News

Edo Sports Commission Boss Celebrates Okpehbolo On Birthday

Published

on

By

The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has felicated with Governor Monday Okpebholo, on the occasion of his birthday.

In a statement issued on Friday by his Media Officer, Edoko Wilson Edoko, Enabulele Okpebholo as a visionary leader whose dedication to the growth and development of the state has continued to inspire confidence and admiration across all sectors, especially sports.

Advertisement

Enabulele, who highlighted the governor’s unwavering commitment to youth empowerment through sports development, noted that under his leadership, Edo State has witnessed significant strides in grassroots sporting initiatives and infrastructure.

READ ALSO: Enabulele Confident Of Team Edo’s Success At 2025 NYG

His Excellency, Senator Monday Okpebholo, is not just a political leader but a beacon of hope for the younger generation.

Advertisement

“His passion for excellence and inclusive governance is evident in the way he has continued to support policies that uplift our youths and promote sporting excellence,” the statement read.

The Executive Chairman prayed for long life, good health, and continued wisdom for the governor as he steers the affairs of the state towards greater prosperity.

“On behalf of the entire Edo State Sports Commission, I extend our warmest birthday wishes to His Excellency at 55. May this new chapter of his life be filled with more accomplishments and divine grace,” he added.

Advertisement

Continue Reading

News

Oba Of Benin Suspends Palace Chiefs

Published

on

By

The Oba of Benin, Ewuare II, has suspended two of his chiefs for falling for dereliction of duties.

This was contained in a statement signed by the Secretary to the Benin Traditional Council (BTC), Frank Irabor and made available to journalists in Benin City.

Advertisement

He said their suspension was as a result of their long absence from the palace, resulting in their failure to carry out their palace responsibilities.

The suspended persons are: Chief John Igiehon, the Izuwako of Benin and chief Aimiukpomonyako Oghogho (Ebengho), the Oyenmwensoba of Benin.

READ ALSO: Oba Of Benin Suspends 67 Dukes

Advertisement

“The under-mentioned two (2) chiefs have been suspended from the Palace of the Oba of Benin.

“This is as a result of their long absence from the Palace, resulting in their failure to carry out their Palace responsibilities.

“The public is advised to be wary of unscrupulous chiefs that are no longer functioning in the Palace. His Royal Majesty has approved their _ Suspension and directed the public be duly informed. 

Advertisement

“The names of the chiefs are: – ; 1. CHIEF JOHN IGIEHON, THE IZUWAKO OF BENIN and, _ 2 CHIEF AIMIUKPOMONYAKO OGHOGHO (EBENGHO), THE OYENMWENSOBA OF BENIN”, the statement said.

Advertisement
Continue Reading

Trending

Exit mobile version