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Egmont’s Suspension Of Nigeria: A Case For NFIC Bill

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By Walter Duru, Ph.D

Three weeks ago, the hammer of the world’s watchdog on money laundering and terrorist financing, Egmont Group of Financial Intelligence Units fell on Nigeria for non-compliance with global best standards. The crux of the matter is the absence of autonomy for the Nigeria Financial Intelligence Unit-NFIU.

The suspension which was announced at the Egmont Group meeting held in China from July 2nd to 7th, 2017, was following the refusal of Nigeria to make NFIU autonomous in its funding, operations and management of financial intelligence. The failure of Nigeria to pass a law making the NFIU independent is the kernel of the matter.

If Nigeria fails to comply with the group’s demand for a legal framework granting autonomy to the NFIU by January, 2018, the country will be expelled from the global body, which provides the backbone for monitoring international money laundering and terrorist financing activities.

When expelled, Nigeria will no longer be able to benefit from financial intelligence shared by the other one hundred and fifty member-countries, including the United States of America and the United Kingdom, while the country’s ability to recover stolen funds abroad will be hampered.

Another major consequence will be the blacklisting of Nigeria in international finance, and this could affect the issuance of MasterCard and Visa credit and debit cards by Nigerian banks. In fact, financial instruments from Nigeria may not be honoured abroad.

It could also affect the international rating of Nigerian financial institutions, restricting their access to some major international transactions. Nigeria’s membership of the Egmont Group ensured the removal of Nigerian banks from the blacklist of international finance. The blacklisting had prevented the banks from engaging in correspondent banking with foreign institutions and also denied Nigerians access to foreign credit cards.

Joining the Egmont group of FIUs was not easy for Nigeria. It is in fact, one of the greatest legacies of the former President Olusegun Obasanjo’s administration. The suspension of Nigeria is a heavy blow; a major setback, and If Nigeria is expelled, then the country is in real mess.

Nigeria claims to have its FIU as an autonomous Unit in the Economic and Financial Crimes Commission; a situation that has exposed the country to international ridicule and embarrassment. Events over the years clearly show that there is no semblance of autonomy enjoyed by the NFIU.

The constant leaking of sensitive intelligence to Nigerian media, contrary to global best practices and the indiscriminate removal of FIU Directors by successive chairmen of the EFCC say it all.

In 2014, the Egmont Group warned Nigeria that it may suspend her if she refuses to enact a law granting NFIU autonomy. This warning never made any difference, as those opposed to the move worked very hard to suppress information and bend the rules. Now, that which stakeholders tried to avoid has finally happened. The worst- expulsion will certainly happen if we do not call the enemies of the country to order and do the needful.

There are four types of globally acknowledged Financial Intelligence Units. The first is the administrative type-FIU, which focuses on the traditional functions of an FIU- to collect, analyse and disseminate financial intelligence to law enforcement agencies and other authorized entities. This type of FIU does not engage in law enforcement or prosecution.

Next is the law enforcement type of FIU, which performs Police functions of arrest, detention, interrogation, investigation and prosecution; in addition to the traditional functions of an FIU, thereby becoming the custodians of Intelligence, as well as the end users.

The third type is the Judicial FIU, which engages in collation and analysis of financial intelligence, investigation, as well as prosecution of offenders; while the fourth is the hybrid type of FIU, which is a combination of the elements in the three earlier mentioned, depending on domestic preferences.

Nigeria joined the Egmont Group in 2007, opting for an administrative type of FIU. Having registered as an administrative FIU, it must be outside a law enforcement agency. The claim that we have our FIU in EFCC is indeed ridiculous. More laughable is that the EFCC Act describes the EFCC as Nigeria’s FIU.

The major advantage of an administrative-type FIU is that it focuses on the traditional functions of an FIU and not encumbered with police and prosecutorial duties. Indeed, the mandate of the FIU is different from that of law enforcement agencies such as the police and the EFCC. While law enforcement agencies carry out investigations and also prosecute, FIUs do not. This allows for specialization, separation of powers and responsibilities, checks and balances, transparency and accountability. Concentration of multiple responsibilities in the FIU beyond the traditional duties makes the FIU susceptible to abuse of such powers.

For example, in the United States of America, just like Nigeria, where there is more than one law enforcement agency, the FIU is located in the Department of Treasury/Finance. This is to separate the functions of intelligence collection from police duties (investigation) and judicial functions (prosecution), lest there will be over concentration of powers and abuse of such powers.

Similarly, countries such as Canada, Australia, Belgium and France have their FIUs located in their respective Ministries of Finance.

Of all the 14 countries in West Africa with an FIU, Nigeria is the only jurisdiction that currently domiciles its FIU in a law enforcement agency – EFCC, even when it is registered as an administrative-type FIU. This is a misnomer. Ten of the West African countries have their FIUs domiciled in their respective Ministries of Finance, while two others have theirs domiciled in Central Banks and one in Ministry of Justice.

The surest way out of the country’s present quagmire is the enactment of a law that grants autonomy to the NFIU. This is the exact thing the Nigeria Financial Intelligence Agency/Centre Bill presently being considered by the National Assembly seeks to achieve.

The Nigeria Financial Intelligence Centre Bill will ensure that the NFIU is not tied to any agency but will have adequate measures to build an independent financial intelligence system.

The Bill seeks to establish the Nigerian Financial Intelligence Centre as the central body in Nigeria responsible for receiving, requesting, analysing and disseminating financial and other related information to all law enforcement, security agencies and other relevant authorities, as well as exchange of intelligence with over 150 FIUs globally.

NFIC is to serve all law enforcement agencies, regulators and other authorized agencies (EFCC, ICPC, DSS, NDLEA, CBN, CUSTOMS, POLICE, NAPTIP, CBN etc) and domiciling it in any of the interested agencies/parastatals will mean giving undue advantage to one over the others.

In Ghana, the FIU has an independent board and Executive Director. It is located under the Ministry of Finance. In Gambia, the FIU is located in the Central Bank; while in Senegal, Benin, Burkina Faso, Niger, Cote d’Ivoire, Mali and Togo, it is located under the Ministry of Finance.

More so, the mandate of an FIU is different from that of law enforcement; while law enforcement agencies carry out investigations and also prosecute, FIUs do not.

Nigeria opted for an administrative FIU when it registered with the Egmont group in 2007. Having registered an administrative FIU, the operations have to be outside a law enforcement agency.

Majority of the administrative FIU types all over the world are administrative and none, apart from Nigeria is domiciled in a law enforcement centre. They are mostly domiciled in the Ministry of Finance, Justice or Central Bank.

In addition, it is a misnomer to have an independent Board for the proposed Nigeria Financial Intelligence Centre within an EFCC that has a Board with an Executive Chairman. It will not work, as there will be conflict. There cannot be an independent Board within a parastatal.

Also, it is always best to separate the functions of intelligence collection from Police duties so as to avoid overconcentration of powers and the natural consequence of abuse. NFIC as being contemplated today will address inter agency rivalry.

It is on record that Nigeria applied for membership of the Financial Action Task Force and the FATF assessment team is expected in Nigeria in November, 2017, and without the NFIC law in operation, Nigeria cannot be admitted. The country remains disconnected from the secured Web of the Egmont group of FIUs. Only a truly independent FIU can guarantee a way forward for the country.

In the light of the international obligations and standards imposed by various international instruments, to which Nigeria has acceded to, it is imperative that steps are taken to properly define and establish the Nigeria Financial Intelligence Centre, by clearly defining its mandates in the law.

As the National Assembly deliberates on the NFIC Bill, stakeholders must jettison every form of sentiment and support the move to align Nigeria with international best practices, especially, at this critical period of terrorism, which financing is mainly done through money laundering.

Only a truly independent Financial Intelligence Centre can address the country’s security challenges through effective money laundering and terrorist financing checks.

Civil Society, Media and all sectors of the country’s economy must join the crusade to save the country by strengthening the legal framework against corruption, money laundering and terrorist financing.

All hands must be on deck!

Dr Walter Duru is a Public Affairs analyst; Executive Director, Media Initiative against Injustice, Violence and Corruption- MIIVOC and Chairman, Freedom of Information Coalition, Nigeria- FOICN and can be reached on: [email protected]

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Reflection on Groups’ Kindness to Alidinma Mixed Secondary and Ute Okpu Grammar Schools

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Alidinma Mixed Secondary

By Jerome-Mario Utomi

This piece was inspired by two separate but related events; the first has to do with the news report that Dr. Philomena Onoyona Foundation, in line with its vision of giving unwavering commitment to education and community development, recently made a strategic visit to Alidinma Mixed Secondary School in Agbor Alidinma in Ika South Local Government Area of Delta State, where it donated learning materials worth thousands of naira to the students.

The second and closely related to the above centres on the revelation that the Ute Okpu Community in Ika North-East Local Government Area of Delta State recently came alive as the 1990 Set of Ute Okpu Grammar School Old Students Association celebrated its annual reunion with a series of social responsibilities aimed at giving back to the society.

These activities, programmes and initiatives include but are not limited to; deworming of children aged 10 years and below, payment of tribute to the unsung heroes of Ute Okpu Grammar School, presentations of lecture series, bestowing of awards, testimonials, plaques and cash gifts on the school’s outstanding/dedicated teachers, staff, and alumni in recognition of their tireless efforts and unwavering commitment, and unrelenting passion for education.

At a glance, the above show of love by the Foundation and the Old Students Association portrays a bunch that recognizes Social Responsibility as an ethical framework in which individuals or corporations must act in the best interests of their environment and society as a whole, fulfilling their civil duty and taking actions that are beneficial to both the present and upcoming generations.

Beyond the donations, worthy of mention are their messages of hope and resolve to continually support both the present and future students within the state and beyond.

Take as an illustration, Dr. Onoyona underlined that the latest visit and donation of learning materials to the students of Alidinma Mixed Secondary School is the foundation’s way of raising from our community, academically strong and well-informed youths that will provide the future leadership needs of our nation as well as compete favourably with their counterparts abroad’’.

The Nigerian-born and U.S.-based social worker and advocate while calling on other well-meaning and quietly influential Nigerians to team up in her current quest to uplift less privileged and vulnerable youths out of poverty and illiteracy, added that this benevolent outreach which focuses on empowering students through provisions of essential educational materials such as school bags, relevant books, pens, and pencils, among others will continue and be extended to other schools within Delta state and beyond to equip the students with the tools needed to excel academically and inspire a brighter future.

In a related development, Speaking via a statement signed by one of the leading members, Chukwuka Justus Iwegbu and titled; The Spirit of Giving Back to Our Community and Alma Mater: A Tribute to the Unsung Heroes of Ute Okpu Grammar School 1990 Set Old Students Association, the Ute Okpu Old Students Association explained that the event which took place at Ute Okpu Unity Town Hall was a testament to the enduring spirit of the alumni association and its commitment to recognizing the contributions of its esteemed members.

“One thing that brought us together after so many years of leaving our alma mater is unity and love. We may not bother ourselves with the sung and unsung stories because we have a whole lot of members who believe in an unsung story of positive contribution and impact on the lives of others. Remembering our roots remains our major mandate and a call to duty.

“The Ute Okpu Grammar School Alumni Association, 1990 set, is committed to giving back to our alma mater and the Ute Okpu community. We believe that education is the key to unlocking the potential of individuals and communities, and we are dedicated to supporting initiatives that promote educational excellence and intergenerational change,” the statement concluded.

Without a doubt, it will be convenient for many to argue that there is nothing philanthropic to attract media coverage of such a low-profiled donation of learning material, particularly as the value of the donation in question is not measured in billions of Naira.

For me, there are lessons to learn from these groups and every reason to celebrate their actions.

First and very fundamental is the hidden truth that members of these groups are not in absolute terms wealthy, particularly going by Nigerians’ context and definition of riches but were predominantly fired by the burning desire to uplift the life chances of the poor and vulnerable in their environment through educational support.

Regardless of what others may say, this piece holds the opinion that these morally eminent men and women made donations to schools not only as a positive behavioural culture but largely in recognition of the time-honoured aphorism which considers education as the bedrock of development; that with sound educational institutions, a country is as good as made -as the institutions will turn out all rounded manpower to continue with the development of the society driven by well thought out ideas, policies, programmes, and projects.

Their action equally symbolises a bunch in consonance with the fact that it is our collective responsibility to ensure that our schools work and our children are properly educated at the right time.

With their culture of donating to the students’ welfare and comfort, the group, in my view,  amplified the notion that children enjoy the right to education as recognized by a number of international conventions, including the International Covenant on Economic, Social and Cultural Rights which recognizes a compulsory primary education for all, an obligation to develop secondary education accessible to all, as well as the progressive introduction of free higher education/obligation to develop equitable access to higher education.

We must also not fail to remember that a few years ago, the National Human Rights Commission (NHRC), in line with its mandate to promote and protect human rights, established the right to education as a thematic area of focus to drive its vision of having all children enrolled in school as well as to ensure that the culture of human rights is promoted and maintained in schools.

One common fact we must not shy away from as a people is that the crushing weight arising from education funding in Nigeria and globally has become too heavy for only the government to shoulder and that is another reason why the intervention/donation by these groups is most profound.

As we celebrate these uncommon efforts, the lesson we must all draw from the example of these groups is that it is time for all to collectively find creative and sustainable solutions to educational provision for all in Nigeria, especially for the children of the poor and lowly as these children deserve the right to hold all of us accountable.

If we fail to provide this traditional but universal responsibility to these children, their future will hang in the balance as a result of such failures. And chances are that most of them will run to the streets. And, as we know, the streets are known for breeding all sorts of criminals and other social misfits who constitute the real threat such as armed robbers, thugs, drug abusers, drunkards, prostitutes and all other social ills that give a bad name to society.

Utomi, a media specialist, writes from Lagos, Nigeria. He can be reached via [email protected]/08032725374

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Ways to Stick to Your New Year’s Resolutions Without Breaking the Bank

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Embarking on a new year often involves setting ambitious resolutions – a global tradition of striving for personal growth and positive change. We vow to eat healthier, exercise more, learn a new skill, or take on challenging DIY projects. However, as the initial enthusiasm wanes, some resolution may only fall by the wayside.

To enhance your chances of success, let’s delve into some common resolutions and explore key tips that will empower you. This includes setting clear and achievable goals and utilising tools that will equip you for the journey towards achieving those aspirations.

1. Enhancing physical wellbeing: Losing weight or improving fitness often requires a lot of different things working together. To support your efforts, consider utilising tools such as smartwatches to track progress, resistance bands for strength training, and cardio equipment like an exercise bike or treadmill. For home workouts, invest in dumbbells, kettlebells, and a yoga mat. A food scale can aid in portion control. You can also stay motivated by wearing nice workout clothes that makes exercise more fun. These products are all available on Temu, a direct-from-factory marketplace offering year-round deals to help you achieve your New Year’s resolutions.

2. Cultivating healthy eating habits: This often involves prioritising whole foods, minimising processed foods, and increasing fruit and vegetable consumption. To simplify this journey, consider investing in helpful kitchen tools. A food processor can streamline meal prep, while an air fryer offers a healthier cooking alternative. A slow cooker is perfect for effortless and flavourful meals, and a vegetable spiraliser can make eating vegetables more enjoyable.

3. Prioritising stress reduction and wellness: Prioritising wellness is crucial for overall well-being. To reduce stress and feel better, focus on mindfulness practices like meditation or yoga and spend time in nature. Improve your sleep habits. Helpful tools include essential oil diffusers to create a calming atmosphere, weighted blankets for relaxation and comfort, stress balls to release tension and improve circulation, and noise-cancelling headphones to block out distractions.

4. Trying out a side hustle to diversify income:  Becoming a social media content curator, for example,  is a rewarding pursuit in Nigeria, however, it requires careful planning and execution. Defining your niche and identifying reliable sources of content are crucial first steps. A strong technological foundation is essential for success. This includes a reliable computer or mobile device, a stable internet connection, and specialised software for editing (video, audio, and image). Investing in affordable high-quality recording equipment, such as cameras, is crucial for capturing professional-looking content, while good lighting is essential to enhance its visual appeal.

5. Strengthening personal relationships: This is a valuable resolution that can enhance our well-being and strengthen our relationships. In today’s busy world, it’s easy to let the demands of daily life overshadow meaningful connections. To make this resolution a reality, consider scheduling regular family dinners, planning weekend outings, or dedicating specific times for uninterrupted conversations. Remember that quality time is key; put away distractions and truly engage with your loved ones.

6. Contributing to the community through volunteering: Volunteering your time to a cause you believe in is a rewarding way to make a difference in your community and the world. Find a cause that resonates with you and explore opportunities within your local area. Start small and gradually increase your commitment. Remember that volunteering is a two-way street; it not only benefits the organisation but also provides you with a sense of purpose and fulfilment.

Consistency and adaptability are key to achieving your New Year’s resolutions. Celebrate your successes, be patient with yourself, and don’t hesitate to adjust your approach when needed. Platforms like Temu can be invaluable allies, offering a wide range of affordable products to support your goals. From fitness equipment to kitchen essentials, Temu can effectively equip you without straining your budget.

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Unlocking Full Human Potential: Growth, Diversity, and Purpose

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In Nigeria’s diverse workforce, the conversation around diversity and inclusion (DEI) extends beyond gender to address tribal diversity, socioeconomic representation, and other cultural nuances. Policies that promote inclusivity are crucial for fostering collaboration in Nigeria’s multicultural corporate environment.

“An organisation is only as good as its people. Ensuring those people perform to their best is the role of human capital. Today, the field has a range of tools to ensure real-time engagement and agile interventions for optimal job satisfaction and performance”, – Catia Teixeira, MultiChoice Africa Holdings Group Executive Head of Human Capital.

In both our professional and personal lives, we all strive for growth and development. These opportunities are deeply rewarding, supporting the kind of self-actualisation that makes life most fulfilling. In the Nigerian workplace, where career growth often intertwines with societal expectations and the drive for self-improvement, human capital plays an even more significant role. Opportunities to grow are not just fulfilling but are deeply rooted in our collective ambition for a better future.

Employee engagement is a reflection of how actualised individuals feel in their roles. Engaged employees are more likely to perform at their peak and contribute positively to the workplace. In Nigeria, where the “hustle culture” is celebrated, organizations must create environments that not only nurture growth but also recognize and reward the efforts of their people.

When employees feel enriched and their work aligns with their aspirations, the results are transformative. Growth and development are not just personal milestones—they are the foundation of a thriving organization and, by extension, a more productive society.

Identifying Growth Opportunities

In every workplace, some employees stand out from the first day, while others take time to grow into their potential. Talent management processes must cater to both. For instance, a twice-yearly organizational talent review can help Nigerian companies identify where employees excel and where they need support.

Interactions within the workplace also play a crucial role. In Nigeria’s highly networked professional landscape, creating opportunities for cross-departmental collaboration can open new doors for employees. Systematic development plans, supported by tailored training, ensure that these opportunities translate into tangible growth.

Take the MultiChoice Academy, for example, which offers over 4,000 online courses spanning finance, HR, marketing, and other fields. This mirrors the Nigerian appetite for continuous learning, especially as industries rapidly embrace digital transformation. While face-to-face training remains valuable, customized e-learning platforms are pivotal in bridging knowledge gaps and preparing employees for the future of work.

For any training program, balance is key. Organizations must align employee development with business goals while ensuring individuals feel empowered to pursue their aspirations. In Nigeria, induction programs that connect new hires with company visions and purpose are critical to building this alignment.

One of the most rewarding aspects of human capital management is witnessing success stories unfold. In a country like Nigeria, where talent is abundant, but opportunities may be unevenly distributed, developing talent internally can make a significant impact. Long-term employees bring invaluable institutional knowledge, and nurturing their growth ensures they continue to drive organizational success.

At MultiChoice, we are deeply committed to equipping our workforce with the skills and confidence needed to excel. Whether it’s training young leaders, empowering women in leadership, or developing heads of departments, every investment in our people enhances their value – as individuals and as indispensable assets to the company.

What Diversity Means

At MultiChoice, gender equity remains a key focus. Women make up 46% of our workforce, and 46% of leadership roles are held by women—a significant achievement in a society where women often juggle professional aspirations with traditional family roles. Our promotions policy is designed to push these numbers to 50%, ensuring equity across all levels of the organization.

When entering new markets, MultiChoice intentionally applies its culture of inclusion, empowering women to excel in leadership positions. This commitment extends to addressing barriers unique to Nigeria, such as access to resources and mentorship for women in underrepresented fields.

Data Drives Change

To drive meaningful change, data is indispensable. Nigerian companies often face challenges like high employee turnover and workplace inefficiencies. By leveraging data, organizations can address these issues strategically.

MultiChoice uses platforms like Office Vibe to generate insights into employee engagement, satisfaction, and work-life balance. Weekly surveys and random polls provide actionable feedback, enabling quick interventions and fostering a culture of continuous improvement.

In Nigeria, where trust in leadership significantly influences workplace morale, data can also help bridge gaps between management and employees. Regular focus groups, coupled with robust analytics, ensure employees feel heard and supported. When organizations align employee needs with business goals, the result is a workforce driven by purpose and achievement.

The Collective Goal

In Nigeria, where community and collective growth are deeply valued, human capital strategies should emphasize the power of shared purpose. By investing in people, organizations contribute to a larger vision of national development.

At MultiChoice, every success story is a testament to this philosophy. From training young leaders to empowering women in leadership, the organization demonstrates that growth is a journey best undertaken together. For Nigeria, this represents a powerful blueprint for building a future where individuals and organizations thrive in harmony.

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