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 email@example.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD The ElombahNews (Elombah.com) Mobile App Here
Send eyewitness accounts/ reports/ articles to firstname.lastname@example.org; follow us on twitter @ElombahNews; like our Facebook page: ElombahNews
For adverts & inquiries, call +447460770987, +2349050382526
You may be interested
Lagos Police arrest woman, friend who set ex-lover’s house, girlfriend ablazeadmin - November 24, 2020
<!-- Lagos Police arrest woman, friend who set ex-lover’s house, girlfriend ablaze - ElombahNews HomeNewsLagos Police arrest woman, friend who…
Nigeria records more COVID-19 deaths as NCDC confirms 56 new casesadmin - November 24, 2020
The Nigeria Centre for Disease Control (NCDC) on Monday announced 56 new COVID-19 cases in the country. NCDC gave the…