General
AGF Calls for Use of Technology to Tackle Rising Illicit Financial Flows
By Adedapo Adesanya
The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), has said that Nigeria must use technologies to tackle illicit financial flows which pose a serious threat to the country which is facing rising cases of money laundering and terrorism
He called on member states of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) to deploy modern technologies to combat illicit financial flows in the sub-region during his speech at the 2023 summit for Compliance Officers themed Intersection of Technology and anti-money laundering; combating of financing of terrorism and proliferation on Tuesday in Abuja.
Mr Fagbemi, who is also the Chairman of the GIABA Ministerial Committee, said member countries should prioritise the deployment of new technologies to address the threats.
In his remarks, the Director-General of GIABA, Mr Edwin Harris, said although technology offered new ways to prevent crimes related to money laundering and counter-terrorism financing, it also presents some challenges.
He said new technologies on anti-money laundering must reflect threats and opportunities, and be compatible with the international standards of data protection, privacy and cyber security.
According to him, this is important to promote the effective implementation of laws against money laundering, terrorism financing, and proliferation.
“We believe that in this era of rapid technological advancement, technology plays a major role in anti-money laundering and financing of terrorism and proliferation compliance and in strengthening the safety of the global financial system.
“The pace of technology has continued to advance significantly in recent years, bringing with it hosts of technologies such as data analytics and machine learning, which promise improved safety analytic compliance,” Mr Harris said.
In his remarks, Mr Tukur Mobibbo, the Director of the Nigerian Financial Intelligence Unit (NFIU), said countries and financial institutions should use technology to identify and assess money laundering terrorism financing risks.
Mr Mobibbo, who was represented by Mr Muhammad Jaya, Associate-Director, Analysis and Compliance Directorate of NFIU, said financial crimes are dynamic and across borders.
“In West African countries in terms of new technologies, only one country out of the seventeen countries have compliance, seven have partial compliance, and nine which is 52 per cent have no compliance with new technology.
“Globally, out of the ten most impacted countries in terms of terrorism and financing of terrorism, four are from West Africa.
“This is to underscore the importance of this great summit; we have continued to use technology to leverage technology in the coordination and fights against money laundering and terrorism financing,” he added.
According to him, Nigeria has deployed a crime record information system into more than 40 competent authorities in the country and is leveraging technology to fight woes in cryptocurrency transactions.
The summit was a platform for the participants to share experiences, and foster collaboration and cooperation in the use of technology to curb money laundering, terrorism financing, and its proliferation.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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