We’ve siezed N45b looted funds, identified individuals, entities linked to terrorism – Tinubu govt

We’ve siezed N45b looted funds, identified individuals, entities linked to terrorism – Tinubu govt

 The Federal Government has disclosed that it has seized over
N45 billion illegally looted from the national treasury.

 

The government has also identified and designated several
individuals and entities linked to terrorist activities.

 

The Tinubu-led government has also confirmed that funds
traced to these individuals have been confiscated.

 

This revelation was made by the Attorney-General of the
Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, during the 40th
Technical Commission/Plenary Meeting of the Inter-Governmental Action Group
Against Money Laundering in West Africa (GIABA), held at the State House,
Abuja.

 

Fagbemi stated, “We now have over 1,500 officers dedicated
to investigating and prosecuting money laundering across these three agencies
alone.

 

“This sustained investment has led to increased numbers of
investigations, prosecutions, and convictions consistently since 2021, with
5,118 investigations, 1,509 prosecutions, and almost 500 convictions secured,
resulting in over 45 billion naira of illicit proceeds seized.

 

“We have also made progress in tackling the financing of
terrorism and in particular, I am pleased that we have identified and
designated a number of individuals and entities linked to terrorist activity
and seized funds linked to them.

 

“The Nigerian Financial Intelligence Unit (NFIU) has become
a global model and achieved the outcomes envisaged by the passage of its
enabling legislation in 2018, which established it as an independent,
autonomous unit.

 

“The Unit has significantly expanded the scope of financial
intelligence it has access to and provides to other competent authorities.

 

“The Unit has also put in place a number of innovative
technologies, including the Crime Records Information Management System
(CRIMS), which has transformed our approach to intelligence sharing.”

Source: We’ve siezed N45b looted funds, identified individuals, entities linked to terrorism – Tinubu govt

 - NigerianEye
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