Nigeria making progress in money laundering, terrorism financing fight –  FATF

According to the Nigerian Financial Intelligence Unit (NFIU), Nigeria will exit the Financial Action Task Force (FATF) grey list by early 2025.

The FATF acknowledged Nigeria’s progress during its June 2024 Plenary meeting in Singapore. Nigeria’s efforts to address anti-money laundering and counter-terrorism financing deficiencies have been recognized.

The Nigerian delegation at the Plenary included the EFCC Executive Chairman, the SCUML Director, and the NFIU CEO’s Chief of Staff.

A statement by Sani Tukur, Head of Strategic Communications at NFIU, confirmed Nigeria’s advancement and commitment to the Action Plan.

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It noted, “The Plenary approved two more upgrades. Nigeria has completed 30% of the Action Plan and is on track to exit the grey list by early 2025.”

Hafsat Abubakar Bakari reaffirmed Nigeria’s dedication to fully implementing the Action Plan and updated the Plenary on GIABA’s progress in strengthening its technical capacity.

Nigeria was placed on the grey list in February 2023. Exiting the list is expected to enhance Nigeria’s international reputation and attract foreign investment.

Nigeria making progress in money laundering, terrorism financing fight –  FATF

Scrap LGs if govs won’t allow them to function, Audu Ogbeh tells FG

Former Minister of Agriculture, Chief Audu Ogbeh, has called on the federal government to consider scrapping the local government system if state governors continue to hinder its effective operation.

Ogbeh highlighted concerns over the inefficiency of Nigeria’s 774 local government areas, citing issues of governance control and alleged mismanagement of funds by governors. He emphasized that little improvement has been seen despite calls for local government autonomy and recent legal actions against governors for misusing local government funds.

Speaking on the socio-political programme “Inside Sources with Laolu Akande” on Channels Television, Ogbeh, a former National Chairman of the Peoples Democratic Party (PDP), expressed frustration over disappearing funds meant for local government administration. He criticized the lack of visible development projects despite significant federal allocations.

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“If we don’t want the local government system, let’s scrap it. But if allowed to function properly, it could be a fantastic system,” Ogbeh asserted.

He urged the federal government to withhold monthly allocations to states where governors appoint caretaker committees for local government administration, labelling such committees illegal according to Supreme Court rulings.

“Don’t send them cash; deduct their allocations and retain it,” Ogbeh insisted. He argued that governors failing to manage local government affairs adequately undermine national stability and development.

“These failures are creating dangerous problems for the country,” he concluded, emphasizing the urgent need for effective governance at the grassroots level to benefit all Nigerians.

Scrap LGs if govs won’t allow them to function, Audu Ogbeh tells FG

Pension: Military begins three-month electronic verification of retired soldiers July 1

The Military Pension Board (MPB) has announced the commencement of an Electronic Verification Exercise starting from July 1, 2024, aimed at all veterans who served commendably before retirement.

Chairman of the Board, Air Vice Marshal Paul Irumheson, revealed this during a press briefing in Abuja, highlighting that the exercise will span three months, concluding on September 30, 2024.

Irumheson emphasized the shift to electronic verification as essential due to the security risks associated with physical travel, particularly for elderly pensioners and those residing abroad who face high transportation costs.

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Following a successful pilot test conducted from February 19 to March 1, 2024, involving 2000 pensioners with only 15 participants encountering issues, Irumheson assured that the system was refined based on trial phase feedback.

“On behalf of the Military Pension Board, I declare the Electronic Verification Exercise open for all retired pensioners,” stated Irumheson. He underscored the importance of public awareness and education initiatives to effectively guide pensioners through the verification process.

The Board stressed that pensioners failing to participate in the electronic verification exercise risk non-payment of pensions in the future. The initiative has received approval from Minister of State for Defence, Bello Matawalle, and Chief of Defence Staff, Gen. CG Musa.

The MPB urged all retired military officers eligible for pensions to actively engage in the exercise to ensure a smooth continuation of pension disbursements.

Pension: Military begins three-month electronic verification of retired soldiers July 1