Bawa asks journalists to deepen reportage of money laundering

Glory Ebomah

The Chairman of the Economic and Financial Crimes Commission, EFCC Abdulrasheed Bawa, on Thursday, April 20, 2023, urged journalists to deepen their reportage of money laundering issues in order to complement the efforts of the commission in tackling the malaise.

According to him, Nigerians need to be more informed about the new anti-money laundering framework arising from the enactment of three new legislations: the Money Laundering (Prevention and Prohibition) Act, 2022, Proceeds of Crime (Recovery and Management) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022. He described the new laws as “fresh legal armaments against illicit financial flows and money laundering.”

Bawa spoke through Assistant Commander of the EFCC Kanu Idagu, Commander of the Benin Zonal Command, at a workshop on Effective Reporting of Economic and Financial Crimes for Journalists covering the activities of the Commission in Edo, Delta, and Ondo states.

According to him, the workshop was one of the Commission’s modest efforts in building synergy with the media and strengthening their understanding and appreciation of the work of the Commission

He described journalists as critical stakeholders in the anti-graft war and commended their robust reporting of the activities of the Commission.

He, however, urged journalists also to beam their searchlights on the activities of Designated Non-Financial Businesses and Professions, DNFBPs as it is currently under-reported.  “If we devote more coverage to this sector, in the same way, financial institutions are reported, operators in the sectors and indeed the general public, will be better informed about their obligations to regulatory authorities and by so doing, refrain from any infraction or compromise of extant laws.”

In his paper titled The New Money Laundering Frameworks- Duties and Responsibilities of Individuals and Corporate Organisation, Christopher Mshelia, a prosecutor with the Commission dissected the new Money Laundering Law, the innovative provisions, and the responsibilities of individuals and corporate organisations.

Dele Oyewale, an Assistant Commander of the EFCC, spoke on Investigative Journalism and Nigeria’s Fight Against Money Laundering. He charged journalists to use the tools of investigative journalism in exposing corrupt practices in high places. He said the time has come for journalists to play their crucial role of holding public officers accountable to the people.

The last paper on Digital Payment Systems was presented by Oyinkanpupo Oluwakemi, an Assistant Commander of the EFCC.