In the midst of worsening and escalating security challenges across the country, the Minister of Interior, Ogbeni Rauf Aregbesola, has said cutting off the FINANCIAL LIFE LINE is one quick way that the challenges be resolved.
This is coming even as he averred that some of the perpetrators of crimes and insecurity are still in business suggests strongly that they have strong internal or external financial linkages.
He identified financial crimes militating against national economic development to include money laundering and terrorism financing.
The Minister however pledged the unflinching commitment of the Federal Government to fighting the menace with all seriousness and tenacity of purpose.
The Minister made the disclosure on Thursday in Abuja, at the inauguration of a 10-member inter-ministerial committee, set up to implement the adoption and implementation of the assigned roles to the Ministry of Interior, on the Financial Action Taskforce (FATF) implementation roadmap adopted by the federal government.
Furthermore, he explained that a great deal of the security challenges that our country is facing today can be attributed to activities of economic saboteurs who indulge in illegal financial dealings to the detriment of the country.
He said: “Let me reiterate federal government’s unflinching commitment to the eradication of money laundering, financing of terrorism and related corrupt practices. This has made us willing and active partner with other African countries and global partners in this advocacy and fight.”
Aregbesola, acknowledged in a statement signed by the Ministry’s Deputy Director of Press, Mr. Afonja Ajibola, that some of the security challenges that the nation faces at the moment could be resolved if the financial lifeline of the actors is cut off. That some of them are still in business suggests strongly that they have strong internal or external financial linkages.
He pledged that Nigeria will work with the International Community because this global crime is a threat to economic development, adding: “Money laundering undermines the legitimate private sector and the integrity of financial markets, loss of control of economic policy, causes economic distortion and instability as well as loss of revenue, among other untoward consequences.”
He charged the 10-member committee to work assiduously to deliver on the terms of reference assigned to them to enable the country achieve the standards that would improve the country’s rating by the FATF and International Cooperation Review Group (ICRG).
The committee which is headed by the Permanent Secretary, in the ministry, Dr. Shuaib Belgore, has the Nigerian Immigration Service, Nigerian Correctional Service and NSCDC. The Committee is expected to report the progress of assessment to the Minister every 2 weeks.