EFCC Charges NGOs, CSOs on Money Laundering, Terrorism Financing

Posted On 26 Apr 2021
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EFCC Charges NGOs, CSOs on Money Laundering, Terrorism Financing

The Head of the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, Ahmed Ghali, has said that Non-Governmental Organisations, NGOs, and Civil Society Organisations, CSOs, have critical roles to play, in curbing money laundering and terrorism financing in Nigeria.


He stated this on April 26, 2021, at a seminar jointly organised by ECOWAS, the Inter-Governmental Action Group against Money Laundering in West Africa, GIABA,

AML/CFT Forum, Nigeria and NGOs/ CSOs Consortium in Ikeja, Lagos.

Delivering a paper entitled, “The Role of Non-Governmental Organisations and Civil Society Organisations in Countering Terrorism Financing in Nigeria”, Ghali stressed the law will not spare any NGO/CSO that allows itself to be a tool for perpetrating money laundering or terrorism financing in Nigeria.


“The varied funding sources and the ability of NGOs and CSOs to process large amounts of cash to beneficiaries and regularly transmitting funds between jurisdictions make them prone to money laundering and financing of terrorism,”

he said.


According to him, it is mandatory to report to the Special Control Unit against Money Laundering, SCUML, any transaction through any formal financial channels in excess of $10,000 and any cash donations in excess of $1,000.


“Failure to do this is punishable by the law,” he said.

About the Author
Philomena  Ngozi Christopher-Oji was born to the family of the late Michael and Cecilia Ojeogwu of Ubulu-Uku, in Aniocha South Local Government Area, Delta State. She had her primary and secondary education in Nwanoli and Ezemu Girls College, in Ubulu-Uku, before she proceeded to the Delta State University, Abraka, where she studied English and Literary Studies. READ MORE ABOUT AUTHOR 

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