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Bank Experts Advocate For Employing Technology To Address Financial Crimes

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Bank Experts Advocate For Employing Technology To Address Financial Crimes....KINDLY READ THE FULL STORY HERE▶

Crime experts have urged the Nigerian government and financial institutions to tackle financial crimes by adopting innovative technologies. These experts made this recommendation during the Award Ceremony/Fin-Crime Summit held in Lagos, emphasizing the potential of technologies like Artificial Intelligence, machine learning, big data, and advanced cognitive analytics/algorithms to significantly reduce financial crimes within the financial sector.

Professor Ehi Eric Esoimeme, a Certified Anti-Money Laundering Consultant (CAMC), highlighted the challenges within the banking sector, including national barriers, legal obstacles, institutional issues, and operational challenges. He explained that national barriers involved the absence of reliable government data and outdated national risk assessments related to money laundering and terrorism financing. Legal hurdles encompassed the lack of clear guidance on the use of financial technology for data sharing and regulatory requirements for employing anti-money laundering solutions with embedded machine learning techniques. Institutional and operational barriers included cyberattacks, insider fraud, and ineffective information sharing between parent and subsidiary entities for anti-money laundering and combating the financing of terrorism (AML/CFT) purposes.

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To address these issues effectively, Esoimeme recommended regular updates to Nigeria’s National Risk Assessment to reflect the country’s current risk profile. He also suggested that the Corporate Affairs Commission (CAC) maintain up-to-date Beneficial Ownership information. Regarding institutional and operational reforms, Esoimeme proposed that banks and financial institutions allocate adequate resources for monitoring daily compliance with cybersecurity measures and process automation to mitigate cyberattacks.

In addressing cross-border financial crime risks, especially within the African Continental Free Trade Area, Esoimeme encouraged law enforcement agencies to focus on complicit merchants facilitating trade-based money laundering (TBML) and professionals, including those in the financial sector, accountants, real estate agents, and lawyers. He emphasized the importance of collaboration with other countries to trace illicit proceeds, identify involved parties, gather evidence, and seize assets when pursuing global money laundering syndicates.

During the event, Rezaul Karim, Assistant Vice President of Compliance at HSBC Bangladesh, discussed the consequences of ineffective anti-money laundering leadership and strategies for building and leading anti-money laundering teams. Additionally, Paul Allieu Kamara, Public Relations Officer at Rudolph Kwanue University, demonstrated problem-solving techniques for Anti-FinCrime leaders in the African Continental Free Trade Area.

Ehi Eric Esoimeme, a recognized expert in public law and financial crime compliance, was honored with Associate Professorship from Rudolph Kwanue University (Liberia) and Full Professorship from African Union University (Ethiopia) for his contributions to Public Law and Financial Crime Compliance. During the Award Ceremony/Fin-Crime Summit, he received several prestigious awards, including Doctorate in Economics, Banking, and Finance (Honoris Causa), Doctorate in International Relations (Honoris Causa), and a Certificate of Membership of the Board of Trusteeship from Institu Universitare Du Benin (IUB) University. He also received a special award of recognition from the Nigeria Police Force, Police Community Relations Committee (PCRC) Area C Command for his philanthropic endeavors and dedication to the Nigerian Police.

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Tinubu Directs Shettima To Lead Nigeria’s Delegation To UNGA

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President Bola Tinubu will not attend the 81st Session of the United Nations General Assembly (UNGA) in New York. Instead, the President has directed Vice President Kashim Shettima to lead Nigeria’s delegation to the annual global gathering.....KINDLY READ THE FULL STORY HERE▶

This decision, announced in a statement on Sunday by the Vice President’s spokesman, Stanley Nkwocha, resolves weeks of uncertainty regarding President Tinubu’s attendance. Nigeria’s Permanent Representative to the UN, Jimoh Ibrahim, had previously indicated that arrangements were being made for the President to attend, including a planned seating arrangement near U.S. President Donald Trump.

The high-level delegation to be led by Vice President Shettima will include Rivers State Governor Siminalayi Fubara, Zamfara State Governor Dauda Lawal, various ministers, and other senior government officials.

Agenda in New York

The 81st UNGA General Debate is scheduled to take place from September 22 to September 28, 2026, under the theme, “Restoring trust, managing transformation: A United Nations that delivers for all.”

According to the Presidency’s statement, Vice President Shettima will represent President Tinubu at the summit. His engagements will include:

  • Delivering Nigeria’s National Statement: Outlining the country’s position on major global issues affecting development, peace, security, and international cooperation.

  • High-Level Meetings: Participating in discussions on critical topics such as the Right to Development and climate action.

  • Bilateral Engagements: Joining the traditional reception for Heads of Delegation and holding a series of meetings with world leaders, heads of international organizations, and development partners.

Through these engagements, the delegation aims to advance President Tinubu’s economic diplomacy, deepen strategic partnerships, and strengthen Nigeria’s advocacy for reform of the global financial architecture, sustainable development, and multilateral cooperation.

This marks the third consecutive UNGA session President Tinubu has missed since assuming office. Vice President Shettima is expected to return to Nigeria at the conclusion of his engagements in New York.

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Massive Bust! NDLEA Intercepts ₦3.4 Billion Worth Of Illicit Drugs In Epic Operation!

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 ....KINDLY READ THE FULL STORY HERE▶

The National Drug Law Enforcement Agency (NDLEA) has seized over 1.3 million pills of tramadol and other opioids, alongside approximately 6,000kg of cannabis, carrying a combined street value exceeding ₦3.4 billion across multiple states and the Federal Capital Territory.

  • Tin-Can Island Port, Lagos: Operatives intercepted 1,200 parcels of Canadian Loud (a potent strain of cannabis) weighing 603.75kg and valued at ₦1.81 billion. The shipment arrived from Montreal on September 12 and was discovered hidden inside 31 black jumbo bags loaded in two Toyota Sienna vehicles within a 40-foot container.

  • Delta State: Operatives arrested 49-year-old Innocent Ekpe and his accomplice, 39-year-old Nduka Joseph, along the Benin-Onitsha Expressway in Asaba. Ekpe was transporting 292.48kg of skunk in a silver Toyota Sienna bus and had been using a forged police ID card to pose as a Deputy Superintendent of Police named Godwin Emeka to bypass security checkpoints.

  • Edo State: Acting on intelligence, operatives raided an auto-repair workshop on Agbor Road, Benin City, arresting 45-year-old Matthew Ossai and recovering 48kg of Canadian Loud and 152g of methamphetamine used as a front for storage.

  • Niger State: Three suspects—Bashir Usman (20), Abubakar Nuhu (18), and Abdulrahman Abdulwahab (18)—were arrested along the Abuja-Kaduna Expressway. They were found with two locally fabricated AK-47 rifles, a pistol, magazines, and 9mm ammunition concealed in a travel bag.

  • Abaji-Abuja Highway: Authorities arrested Aminu Isyaku (23) and Jamilu Habibu (25), recovering over 1.1 million assorted tramadol pills, codeine syrup, methamphetamine, and Exol tablets hidden in eight sacks while traveling from Onitsha to Mararaba.

  • Lagos (Surulere & Apongbo): Onyeka Ofor was arrested in Aguda with 48,900 pills of tramadol 225mg, Luke Ugokwe was nabbed after 59kg of cannabis was intercepted at a logistics company, and Ibrahim Hudu (43) was arrested with 998.38kg of nitrous oxide gas.

  • Gombe State: 154,480 capsules of tramadol were recovered from Sabi’u Umar (27) and Hassana Muhammad (19) in separate arrests at Barunde and the Gombe Main Market.

Agency Commendation

Following the operations, the NDLEA Chairman, Brig. Gen. Mohamed Buba Marwa (retd.), commended the officers and men across the affected commands, urging them to maintain intelligence-driven strategies and a balanced approach to drug control nationwide.

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2027: Lagos APC Bans Candidates From Travelling Abroad.

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The Lagos State chapter of the All Progressives Congress (APC) has issued a directive requiring all its candidates to remain in Nigeria until the conclusion of the 2027 general election.....KINDLY READ THE FULL STORY HERE▶

The announcement was made by the state party chairman, Pastor Cornelius Ojelabi, during the inauguration of the Tinubu-Hamzat Campaign Council at the APC secretariat in Ogba, Ikeja.

According to Ojelabi, this measure is designed to ensure that all candidates and party members remain fully focused on campaign preparations and mobilization activities. He also cautioned against underestimating opposition parties, stressing the need for total commitment to the electoral process.

Key Highlights from Chairman Ojelabi’s Address:

  • Travel Ban: “No candidate is allowed to travel outside the country until after the general election.”

  • Campaign Conduct: Ojelabi called for a peaceful campaign, free of hatred, thuggery, and violence, emphasizing that unity must be the party’s strength.

  • A Case for Continuity: Highlighting Lagos as responsible for 33% of Nigeria’s GDP, he argued that the state is too critical to be left to “trial and error.” He praised the president for stabilizing the economy, achieving a trade surplus, and driving key reforms in agriculture, the Lekki Trade Zone, and taxation (including the first tax reform since 1938).

  • Call to Action: He urged members to actively mobilize voters for the entire APC ticket, encompassing the presidential, senatorial, House of Representatives, and House of Assembly candidates.

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