The Nation Newspaper

Tag: Money laundering

  • Goje wants ‘stay of proceedings’ in money laundering case

    Goje wants ‘stay of proceedings’ in money laundering case

    The Federal High Court sitting in Gombe has set aside April 12 for ruling in the application filed before it for stay of proceedings in the money laundering case against the former Governor of the state, Senator Danjuma Goje.

    Presiding Judge, Justice Babtunde Qadiri took the decision after considering the arguments of both the defense and prosecuting counsels.

    The defense Counsel led by Adeniyi Akintola had filed a motion urging the court to stay proceedings in the substantive trial, pending an appeal filed by them at the Court of Appeal, Jos, on the decision of the court to continue entertaining the case in Gombe.

    He argued that the accused persons had to appeal because they had earlier requested that the hearing venue be shifted from Gombe to any part of the country for reasons bordering on security.

    However, counsel to EFCC, Wahab Shittu drew the attention of the court to section 122, 123 and 124 of the Evidence Act 2007, arguing that you cannot use such right to stay proceedings.

    He therefore objected to the request, saying a continuation of the case was paramount since the appeal on change of venue does not relate to the merits of the case.

    Shittu said granting stay of proceedings as requested by the accused would delay the conclusion of such a criminal case.

     

  • Money laundering: Lamido’s son granted bail

    A Federal High Court sitting in Kano on Tuesday granted bail to Aminu, the eldest son of Jigawa State governor, Sule Lamido, who is standing trial for money laundering.

    Aminu was arrested by the Economic and Financial Crimes Commission operatives at the Malam Aminu Kano International Airport on December 11, last year when he attempted to transport $50, 000 out of the country.

    He declared $10,000 to the Nigerian Customs.

    After considering the bail application, Justice Fatu Riman in his ruling averred that the bail would not tamper with investigation because the accused was initially granted administrative bail by EFCC on December 13 last year.

    Despite enjoying the administrative bail conditions, Justice Riman acknowledged that the accused did not jump bail and has been reporting to the EFCC whenever he is requested to do so.

    After establishing that the accused person would not tamper with investigations, Justice Riman granted the bail application, arguing that what type of investigations would allow the accused person to gain access to such evidences.

    He added that the accused person only failed to appear in court on January 19, a development which has been established was due his ill-health.

    The judge, however, granted him bail with conditions, which includes the accused depositing N8 million, while the two sureties, which must be civil servants on Grade Level 14 will deposit N4 million each.

    According to the judge, the sureties must also provide evidence of tax clearance for the last three years, an evidence of landed property within the court’s jurisdiction.

    He adjourned the case to March 18 and 19 for further hearing.

     

  • Money laundering: Nigeria to exit non-compliance zone in 2013

    Money laundering: Nigeria to exit non-compliance zone in 2013

    Nigeria will quit the list of countries that failed to implement various anti-money laundering laws in February, 2013, the Director-General, Inter-Governmental Agency Against Money Laundering in West Africa (GIABA), Dr Abdullahi Shehu, has said.

    Speaking at the GIABA/Egmont Seminar on money laundering in Dakar, Senegal, yesterday, Shehu said various anti-money laundering measures taken by the Federal Government in recent past, especially the passage and amendment of the Money Laundering Act, by the National Assembly has brighten the chances of Nigeria exiting the non-complaince zone next year.

    He said: We wish to commend Nigeria for their tireless efforts so far at rectifying the deficiencies in Nigeria’s Anti-Money Laundering Law and Control of Financial Terrorism (AML/CFT) regime. We welcome in particular the passage into law by the National Assembly, of the Money Laundering and Terrorism Prevention Amendment Acts in October this year.

    “With this development, we hope that at the next FATF Plenary in February 2013, Nigeria, like Ghana, would be taken off the list of non-compliant jurisdictions.”

    He said Ghana has made significant progress in addressing the strategic deficiencies in that country’s AML/CFT regime, thus culminating in the removal of Ghana from the FATF list of non-compliant countries to the compliance one.

    He said Burkina Faso has attained membership of the Egmont Group of Financial Intelligence Unit (FIUs), thus bringing the number of members of the Egmont Group to five.

    He noted that Nigeria, Senegal, Côte d’Ivoire and Mali have joined the group after an appraisal of their anti-money laundering.

    He said numerous Memoranda of Understanding (MoUs) and staff exchange programmes have taken place to strengthen the FIUs of members,adding that the body has been supporting member countries to develop and maintain anti-money laundering standards.