The Nigerian Financial Intelligence Unit (NFIU) has uncovered 96 financiers of terrorism in Nigeria, 424 associates/supporters, 123 companies and 33 bureaux de change forex suppliers, in addition to identifying 26 suspected bandits/kidnappers and seven co-conspirators.
This was announced in a revealing statement on Thursday, February 3, by Alhaji Lai Mohammed, the minister of information and culture.
The 2020-2021 analysis resulted in the arrest of 45 suspects who would soon face prosecution and seizure of assets, he said.
Also, from its analysis of tax evasion and tax avoidance linked to corruption, the NFIU identified ₦3,909,707,678,112.43 in VAT and ₦3,737,918,335,785.82 in withholding tax due to the government.
The NFIU had sent 1,165 intelligence reports on cases of corruption, money laundering and other serious offences to 27 domestic agencies for investigation, prosecution and asset recovery.
On terrorism financing, the NFIU had intelligence exchanges with 19 countries on the Jamā’at Ahl as-Sunnah lid-Da’way Wa’l-Jihād (JAS), more commonly known as Boko Haram, the Islamic State West Africa Province (ISWAP), banditry, kidnapping and others.
During the same period, the organisation returned fraudulently obtained funds totalling US$103,722,102.83, £3,000; 7,695 Singapore dollars and €1,091 to 11 countries of victims who came into Nigeria.
Mohammed said that one of the three major policy planks of the country’s administration was the fight against corruption, with the others being to tackle insecurity and to revamp the economy.
“It is common knowledge that one of the most difficult tasks for any government is to fight corruption, because when you fight corruption, corruption will fight you back! This explains why naysayers have continued to belittle or dismiss the administration’s anti-corruption efforts. Let me say here that fighting corruption is a marathon, and never a sprint.
“Also, investigations, arrests, prosecutions and asset forfeiture – which are the immediate, visible indices by which many measure success in tackling corruption, constitute – as important as they are – just a part of the strategies to combat corruption.”
He said that in 2021, the Economic and Financial Crimes Commission (EFCC) secured a total of 2,220 convictions, representing a 127% percent increase in the number of convictions (976) recorded in 2020.
“The 2021 figure of 2,220 convictions represents a 98.49% success rate, with only 34 cases [representing 1.51%] discharged. On monetary recoveries, in 2021 alone, the EFCC recovered a total amount of ₦152,088,698,751.64; £1,182,519.75, 50 Emirati dirham, 1,723,310 Saudi riyal, 1,900 South African rands; US$386,220,202.85; €156,246.76; 1,400 Canadian dollars; 5.36957319 Bitcoin and 0.09012 Ethereum. The last two are digital currencies.”
Mohammed said the Whistle-blower Policy was an initiative of the Federal Ministry of Finance, Budget and National Planning, meant to encourage the voluntary disclosure of information about fraud, bribery and looted government funds, including financial misconduct and any other form of corruption or theft.
“The whistle-blower whose information leads to recovery is entitled to 2.5% to 5% from the recovered funds. Information and tips received are usually referred to the EFCC, ICPC [Independent Corrupt Practices & Other Related Offences Commission], and NFIU for further painstaking investigation. The policy has helped in the cleansing of IPPIS [Integrated Personnel & Payroll Information System], led to compliance on the TSA [Treasury Single Account] and enhanced the Procurement Act 2007. As at 2020, a total sum of ₦700 billion has been recovered through the Whistle-Blower Policy.”
Mohammed said the financial suffocation of local governments was a major enabler of insecurity and terrorism in the Nigerian countryside.
“Most of Nigeria’s 774 LGAs [Local Government Areas] exist in rural areas where effective local governance is an existential issue. To underscore their responsibility to the people, President Muhammadu Buhari recently reminded the LG chairmen of their burden of accounting for every kobo [one naira is divided into 100 kobo] allocated to their councils, should they fold their arms and allow the sharing to continue by the state governors.
