AML: Bawa Commends Validation of Non-Profit Organizations’ Risk Assessment

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Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa has commended the validation process of the Risk Assessment Report on exposure of Non-Profit Organisation, NPO, to money laundering and terrorist financing, orgnaised by the Special Control on Money Laundering, SCUML, describing it as timely.

He gave the commendation on Wednesday, November 16, 2022 at the Corporate Headquarters of the EFCC while addressing stakeholders involved in the excercise.

The Chairman, who spoke through his Chief of Staff, Hadiza Zubairu Gamawa said the seminar and the reports that came out of it, came at a critical time when Nigeria is battling insecurity and insurgency. The reports of the seminar, he said, would help to determine NPOs that are vulnerable to terrorism financing.

“This exercise is not just to satisfy the international requirement, it goes beyond satisfaction of that; it goes to the level that we as a country has taken a decision that we want to sanitize the system for the betterment of the work we do, and the betterment of everybody in Nigeria, and to ensure that our system cannot longer be used for terrorism financing”, he said.

In his welcome address, SCUML’s Director, Daniel Isei said the essence of the gathering was for stakeholders to sit and assess the report they have collectively produced , validate and announce to the world. In her presentation entitled: “Findings of the Terrorist Financing Risk Assessment of the NPO Sector in Nigeria”, the Project Coordinator, Ibinabo Mary Amachree advised countries to review the adequacy of laws and regulations that relate to NPOs, and identify countries vulnerable to terrorist financing abuse, and to also apply focused, proportionate measures, in line with a risk- based approach to NPOs in order to protect them from terrorist financing abuse

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