“Thousands of Dollars Flown Out of Nigeria Every Hour”: Interpol Raises Fresh Alarm, Tasks EFCC
- Interpol has made a stunning revelation about how "thousands of dollars" are being flown out of Nigeria
- The organisation also noted that money laundering across Africa and the entire world had taken a disturbing shape
- Garba Baba Umar, the Interpol Vice President for Africa, has called for urgent and concerted efforts of every security agency in Nigeria and other countries to address the issue
Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.
FCT, Abuja - The International Criminal Police Organisation (Interpol) has revealed that “thousands of dollars” are laundered out of Nigeria every hour.
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Garba Umar, vice president of Interpol (Africa), made the revelation on Monday, July 29, at a workshop organised for law enforcement agencies at the Economic and Financial Crimes Commission (EFCC) academy in Abuja.
As reported by The Cable, Umar noted that money laundering across Africa and the entire world has assumed a monstrous dimension, and Interpol has designed Silver Notices to combat the menace.
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“Evidence has shown that every hour, hundreds of thousands of dollars are flowing out of Nigeria to the region (Africa) and across the world, laundered before it reaches the pockets of criminals to enjoy the profits of their crimes, while the hardworking and honest Nigerians pay the price of crime.
“With every successful laundering of criminal money, our country becomes more prone to crime. More drugs, more fraud, more corruption and more violence. Every time criminal money is successfully laundered, our financial institutions take an additional blow,” Umar said.
EFCC collaborates with Interpol
As reported by Channels TV, Umar stressed that hard times awaited money launderers as the launch of ‘Silver Notices’ by Interpol would make illicit funds more difficult to launder in any part of the world.
Speaking further, he said financial crimes are transnational and law enforcement agencies need regular training to intercept fraudsters.
“In essence, this Workshop will allow us to re-examine the challenges of fighting transnational crimes in the country, reassess our strategies, and reaffirm our determination and unity as a country to provide security to our citizens and by extension the global community,” Umar said.
Also speaking, Ola Olukoyede, chairman of the EFCC, in a statement, said collaboration is essential in tackling financial crimes.
Represented by Francis Usani, director of fraud risk assessment and control at the EFCC, Olukoyede said the fight against corruption is complex and requires the support of stakeholders.
EFCC places Yahaya Bello on Interpol watch list
Meanwhile, Legit.ng reported that Bello's non-appearance in court for trial sparked serious concern in the polity and informed the latest move by the EFCC.
The anti-graft agency requested Interpol to place Bello on watch list across North Africa as he evades local arrest.
Bello is facing a 19-count charge for alleged money laundering, breach of trust and misappropriation of public funds of about N80.2 billion.
Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.
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