Comply with anti-money laundering regulations or risks sanction- Efcc tells NGOs
By By Ladi Dapson, Maiduguri
The Economic and Financial Crimes Commission, EFCC has trained Civil Society Organizations in Borno state on laundering prevention and compliance, with a view to enabling them align their organisational practices with national anti-corruption frameworks.
Speaking during the one day training workshop on Monday in Maiduguri, Baba Magaji Ibrahim, the Assistant Commander II, Zonal Coordinator, Special Control Unit for Money Laundering (SCUML), EFCC, who presented a paper on the overview of money laundering, underscored the importance of compliance, risk prevention, and reporting suspicious transactions.
He charged the participants to always take heed because the EFCC has moved to sanction organisations that fail to update the anti-money laundering agency of their financial reports.
He said “Let me say this, EFCC has shifted attention from warning, begging organisations to update their financial records to sanctions, if your organisations fail to abide by regulations. You will be sanctioned so let’s do the right things.”
Earlier in his welcome remark, Bulama Abiso, the Executive Director, Network for Civil Society Organizations in Borno State, described the training as timely and critical.
“This workshop is timely and necessary. As civil society actors, we are increasingly operating in a space that requires not only commitment to service but also high standards of integrity, accountability, and compliance with financial regulations.
“Understanding the risks of money laundering and our responsibilities in reporting suspicious transactions is critical not only for institutional sustainability but also for national security and public trust.” he said.
According to him, the engagement offers a unique opportunity for participants to deepen their understanding, ask questions, and align their organisational practices with national anti-corruption frameworks.
He urged all participants to take full advantage of the presentations and discussions throughout the training session.
