May 28, 2023

How to reverse Nigeria’s poor economic fortunes — Adeseyoju, DataPro CEO

How to reverse Nigeria’s poor economic fortunes — Adeseyoju, DataPro CEO

Stories by Tunde Oso

TWENTY four hours to a new government coming into power, Mr. Abimbola Adeseyoju, Managing Director of DataPro, a leading technology-driven credit rating agency (CRA) has listed 10 policies the incoming administration must implement to enable it reverse the poor fortunes of the country.

Declaring open the May, 2023 Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) Stakeholders meeting in Ikoyi, Lagos on Thursday, Adeseyoju, who maintained that the present challenges facing Nigeria are not insurmountable, declared that President-Elect Bola Tinubu and his team must lead by example in the area of transparency and practice what it preaches and be accountable.

According to the Adeseyoju, the new government must also be fair by avoiding conflict of interests, placing the interest of Nigeria or the State above personal interests.

Delving into the sensitive area of insecurity, the DataPro boss charged Tinubu to develop the political will to fight money laundering, terrorism, terrorist financing, proliferation financing and all other financial crimes.

“If these and many others are done, we will surely have a reversal of fortunes in our declining economic, political and social lives,” he said.

He called the attention of compliance officers of banks and associated government agencies like the CBN, EFCC, NDLEA, DSS, FIRS, ICPC among others, to the need for partnership in fighting and combating financial crimes, terrorism, banditry and illicit drug trade.

“It is not accidental that the FATF Recommendation 2 centres on Collaboration, Cooperation and Coordination as key pillars for fighting money laundering, terrorist and proliferation financing globally. The less we collaborate and partner among ourselves in fighting financial crimes the better for the criminals, who will continue to exploit the gaps.

“Banks across the globe are now seeking mutually beneficial partnership among themselves in order to improve financial crime analysis, investigation and prevention,” the DataPro boss said.