UK don partner with CBN NFIU to take track di money wey dem thief – British High Commissioner

Di United Kingdom don intensify him collaboration with Naija agencies, including di Central Bank of Nigeria (CBN) and di Nigeria Financial Intelligence Unit (NFIU), to take reduce illicit financial flows.

Di British High Commissioner to Nigeria, Richard Montgomery, come reveal dis during one policy discussion for Nigeria’s anti-corruption efforts wey Agora Policy organize for Abuja.

Montgomery dey emphasize di UK’s commitment to take support Naija fight against corruption, wey e describe as one force wey dey deepen poverty, raise business costs, and e dey cause big wahala between citizens and government institutions.

Partnerships to Track Illicit Financial Flows

As him dey Highlight di ongoing efforts, Montgomery disclose say di UK’s National Crime Agency (NCA) don dey work closely with Naija anti-graft agencies, such as di Economic and Financial Crimes Commission (EFCC) and di NFIU, to take trace and recover corrupt assets wey dey linked to UK jurisdictions.

“We get productive relationship under di present leadership with di Central Bank of Nigeria and di Nigeria Financial Intelligence Unit on tracking illicit flows.”

“We dey try to go after illicit financial flows and corrupt assets where dem touch from UK jurisdiction,” Montgomery talk.

Building Beneficial Ownership Registers

Anoda key aspect of di partnership na di development of beneficial ownership registers for Naija.

Dis initiative dey aim to identify di true owners of companies, thereby enabling regulatory and law enforcement agencies to combat corruption more effectively.

Di High Commissioner stress say understanding who dey own and control companies dey essential for tackling financial crimes.

Support for Extractive Industry Transparency

Montgomery also commend Naija progress in advancing transparency for di oil and extractive sectors through di Extractive Industries Transparency Initiative (NEITI).

E acknowledge di strides for tracking licensing, revenue, and expenditure information but note say more effort dey required to attract investments and ensure comprehensive transparency for di sector.

Tackling Global Financial Secrecy

As him recognize di role of di UK’s financial sector in global financial secrecy, Montgomery assure say di UK government dey committed to address financial crime at both domestic and international levels.

E acknowledge say while di UK dey support Nigeria’s anti-corruption fight, di most significant change must come from Naija own institutions and leadership.

World Bank EFCC and Agora Policy Call for Holistic Action

For di event, Dr. Ndiamé Diop, World Bank Country Director for Naija, stress say di lack of accurate data within Naija Federal Government dey hamper di generation of timely and automatic fiscal reports.

Dr. Diop, wey Deborah Isser, a Lead Governance Specialist for di World Bank, represent, highlight di need for data-driven transparency in public finance.

Adding to di discourse, Prof. Adele Jinadu, a Political Science professor, assert say only one holistic approach fit effectively tackle corruption for Naija.

Anything short of dis, e argue, go be waste of effort and resources.

Mrs. Adejoke Liman, Director of di Policy and Research Department of di Economic and Financial Crimes Commission (EFCC), represent EFCC Chairman Ola Olukoyede for di event.

She describe corruption as one vast enterprise wey involve theft of public resources at all levels of government.

Liman talk say di EFCC don make conscious effort to use its anti-corruption mandate to stimulate di economy and support social investment programs.

Call for Sustained Anti-Corruption Advocacy

Di Board Chair of Agora Policy, Ms. Ojobo Atuluku, stress say di fight against corruption must not be relegated with change in government.

She urge stakeholders to remain committed to anti-corruption advocacy, regardless of political transitions.

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