News
EFCC charges banks on compliance with anti-money laundering regulations
The Economic and Financial Crimes Commission (EFCC), has called on Heads of Operations of Banks in Benue State to enforce compliance of their customers with regulations requiring registration and certification by the Special Control Unit Against Money Laundering, SCUML as stipulated in the Money Laundering (Prevention and Prohibition) Act 2022.
The Makurdi Zonal Commander, Assistant Commander of the EFCC, ACE Friday Ebelo, gave the charge on Tuesday, August 23, 2022, during a sensitization programme for financial institutions in Makurdi, Benue State.
According to him, “I called this meeting to rob minds with you; this has to do with some of your customers. The new law on money laundering, requires Designated Non-Financial Businesses and Professions, (DNFBPs), to register and obtain a SCUML certificate. This certificate is free, the process is free, help us to talk to your customers to facilitate it.
“The Executive Chairman of the EFCC, Abdulrasheed Bawa, is urging you to observe due diligence in your activities, let’s protect our names, protect our community, let’s encourage your customers to do the right thing because this is our country, we have nowhere else to go.”
Ebelo thanked the banks for their quick response to the Commission’s invitation and urged them to support the Commission in its sustained fight against money laundering and terrorism financing in Nigeria
News
Stop using repressive laws to intimidate journalists – SERAP, NGE tell FG
The Socio-Economic Rights and Accountability Project, SERAP, and Nigeria Guild of Editors, NGE, have called on Nigerian authorities at all levels of government to stop using repressive and anti-media laws to target, intimidate and harass journalists, critics and media houses.
The groups made the demand after an interactive session on ‘the state of press freedom in Nigeria’ held at the Radisson Blu Hotel in Ikeja.
In a joint statement, SERAP and NGE said that, “the government of President Bola Tinubu, the country’s 36 governors and FCT minister must now genuinely uphold press freedom, ensure access to information to all Nigerians, obey court judgments, and respect the rule of law”.
They expressed concerns about the escalating crackdown on the right to freedom of expression and media freedom and the flagrant disregard for the rule of law by authorities at all levels of government.
The groups note that the suppression of the press in recent times takes various forms ranging from extrajudicial to unlawful detentions, disappearances, malicious prosecutions and wrongful use of both legislation and law enforcement.
The statement read in part: “We would continue to speak truth to power and to hold authorities to account for their constitutional and international obligations including on freedom of expression and media freedom.
“Nigeria as a country has a long and unpleasant history of press gagging and clampdown on media freedom, which is evidence of extensive state censorship of media and in some cases, the utter control of state-owned media houses.
“This position has not changed considerably despite almost 25 years of unbroken democratic rule in the Fourth Republic.”
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FG adds 625MW to national grid – Minister
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Tax: Court orders FCT-IRS agency to seal off defaulting coys
A Magistrate Court sitting in Wuse Zone 2, Abuja, on Friday, ordered the Federal Capital Territory Internal Revenue Service (FCT-IRS) to seal off a company, Ifedi A.K. Nigeria Ltd, over allegations bordering on non-filing of annual returns.
The Magistrate, Janada Balami, gave the order after lawyer to FCT-IRS, Michael Towolawi, moved the application to the effect.
Towolawi told the court that the company had failed to file its annual returns from 2019 to 2023 in breach of Section 81 of the Personal Income Tax Act, LFN, 2004, and amended in 2011.
He said all efforts to make the company comply with the law proved abortive.
The lawyer, therefore, applied that the company be compel to appear before the court to explain why it acted in breach of the law.
Balami, who held that the application by the agency against the company had merit, accordingly granted same to seal the No 6, Rudolph Close, Off Katsina-Ala Street, Maitama, Abuja.
She, consequently, ordered the company, the sole defendant in the matter, to appear before the court on May 16.
The Director, Legal Services of the FCT-IRS, Festus Tsavar, told journalists after the proceeding that the service would move against companies that do not file their annual returns as provided by law.
“You know that we have a new minister in FCT that is doing a lot of projects and that hinges on money.
“And of course, you are aware that FCT has come out of TSA.
“So it is the internally generated revenue that will make the government of FCT to be able to do those projects completely within required time,” he said.
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