July 28, 2010

CBN, EFCC, DataPro to sensitise Banks’ CEOs on money laundering

By Michael Eboh
Central Bank of Nigeria (CBN), in conjunction with the Nigerian Financial Intelligence Unit (NFIU)/Economic and Financial Crimes Commission (EFCC) and DataPro Limited have concluded plans to sensitise top officials of banks and discount houses in the country on ways of curbing money laundering and terrorism financing in their various institutions and the economy, in general.


To this end, according to a statement signed by the Managing Director, DataPro, Mr. Abimbola Adeseyoju, managing directors, executive and non-executive Board members of all the 22 Nigerian banks and five discount houses will be expected to attend an Anti Money Laundering/Countering of Terrorism Financing compliance and Corporate Governance training programme, organised by the CBN in conjunction with the EFCC and DataPro.
He said, “The program will enable the directors not only to be able to talk-the-compliance-talk, but more importantly, also start to walk-the-talk.”

He noted that the training will ensure that the top officials of the banks and discount houses begin to see the reason why they should monitor, motivate and support the chief compliance officers (CCO) of their various organisations in the conduct of their duties.

“The culture and practice of compliance in our financial institutions, he said, “Cannot solidify if the crusade is not led by the Board.

He said that the event which is scheduled to hold from July 28 to August 5, at Transcorp Hilton, Abuja, will feature a welcome address by the EFCC Chairman, Mrs. Farida Waziri.

“In the programme of event”, Adeseyoju said, “Goodwill message is expected to be delivered by the Director General of GIABA, Dr. Abdulahi Shehu and a paper on the ‘Overview of AML/CFT Regime in Nigeria’ would be presented by the Director of NFIU, Mr. Norman. Wokoma, while the Special Adviser to the CBN Governor, Mr. Norris Kim will present the paper ‘Financial Crisis: Where were the Boards?’”

The participating discount houses, according to him, include: Associated Discount House Limited; Consolidated Discount House; Express Discount House Limited, First Securities Discount House Limited and Kakawa Discount House Limited.