The Acting Chairman, Economic and Financial Crimes Commission, Mohammed Umar on Monday, August, 17, 2020, warned Designated Non-Financial Institutions, (DNFIs), across the country against un-reported suspicious transactions to appropriate government agencies. According to him, stiff penalties would be meted out to any erring DFNI in this regard.
Umar made the declaration at EFCC Academy, Karu, Abuja, during the opening ceremony of a four-day training on “Asset Tracing and Investigation,” organized by the EFCC for its officers, drawn from its 14 zonal offices.
The training, which is aimed at further equipping the Commission’s officers with skills on how to trace, identify and recover proceeds of economic and financial crimes, runs alongside another course on Microsoft Excel, geared towards aiding investigative officers in building database, and skill acquisition on chart linking on recovered assets.
Represented by the Academy’s acting commandant, Itam Nnaghe Obono, Umar stated that “If any of the defaulting DNFIs is penalized and used as an example, others will all wake up to complying with the requirement of the law which mandates them to report all transactions within a stipulated threshold.”
DFNIs are statutorily required to file reports of suspicious transactions to the Special Control Unit Against Money Laundering( SCUML), domiciled in the EFCC. Their non-compliance may yield prosecution of any erring institution or individual.
DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL Elombah.com links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via firstname.lastname@example.org or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD The ElombahNews (Elombah.com) Mobile App Here
Send eyewitness accounts/ reports/ articles to email@example.com; follow us on twitter @ElombahNews; like our Facebook page: ElombahNews
For adverts & inquiries, call +447460770987, +2349050382526
You may be interested
Man Utd vs Crystal Palace: Ighalo told to look elsewhere immediatelyadmin - September 18, 2020
Former Nigerian international, Victor Ezeji, has told Manchester United striker, Odion Ighalo, that the time has come for him to…
End cybercrime in our country – Emir of Bauchi tells Senateadmin - September 18, 2020
The Emir of Bauchi, Alhaji Rilwanu Suleimanu Adamu has tasked Senate Committee on ICT and Cybercrime to come up with…
Police commences mop-up exercise on illegal firearms.admin - September 18, 2020
The Niger State Police Command has called on members of the public in possession of illegal and prohibited firearms in…