Posted by By MURPHY GANAGANA, Abuja on
Public anxiety and fears over the ability of the Economic and Financial Crimes Commission (EFCC) to conduct a credible investigation on allegations of corruption against President Olusegun Obasanjo received credence Wednesday, as the anti-graft agency declared its absolute loyalty to the president.
Public anxiety and fears over the ability of the Economic and Financial Crimes Commission (EFCC) to conduct a credible investigation on allegations of corruption against President Olusegun Obasanjo received credence Wednesday, as the anti-graft agency declared its absolute loyalty to the president.
At a session with a team of United States government officials on a visit to the commission's head office in Abuja, chairman of the EFCC, Mallam Nuhu Ribadu, said emphatically that he is answerable to no other person other than Obasanjo.
Responding to enquiries by a member of the team on channels of reporting the agency's activities, Ribadu, who was represented by the commission secretary, Mr. Emmanuel Akumaye, said "we report absolutely to the president".
Amidst further probing from the visiting US officials on EFCC operations, Akumaye abruptly ordered reporters covering the event out of the conference room, fuelling a mild protest by the newsmen who wondered why the EFCC was more favourably disposed to divulging its secrets to foreign government officials rather than the Nigerian public.
Commenting on the composition and functions of the commission, Akumaye said most of its personnel are in the operations department spread across three offices in Lagos, Port Harcourt and Abuja, with 27 staff in the Financial Intelligence Unit (FIU).
He disclosed that banks operating in the country are not comfortable with regular EFCC spot checks, urging financial institutions to brace up for war against money laundering, warning that the commission would not excuse any bank which fails to comply with the guidelines.
"EFCC wants to see how banks are complying with anti-money laundering guidelines. We are not going to excuse any financial institution for non-compliance.
The sanctions are clearly stated, and this includes revocation of operational licence," Akumaye noted.
In his remarks, Regional Advisor of the US Department of Treasury, and leader of the five-man team, Mr. Jerry Rowe, said the US government has budgeted $1.7million to assist in combating money laundering and other financial crimes in Nigeria.
Out of the amount, $1.1million is expected to be spent on projects by the office of the Accountant General of the Federation.