The Federal Government has promised to take severe measures against Nigerian banks, financial institutions, and accounting firms that are discovered to be complicit in the financing of terrorism. It has warned that the leaders of these organisations will be prosecuted and that the institutions may be closed or punished.
Daniel Bwala, President Bola Tinubu’s Special Advisor on Media and Public Communication, revealed this in a TVC interview.
According to Bwala, countries all over the world, including the US, concentrate on fighting money laundering and terrorism financing because it is the lifeblood of terrorist activities.
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“We will look at banks that are collaborating with elements like that. We look at other financial institutions that are not banks as it were. We look at accounting firms that are involved in this money laundering. And then we look at our collaboration with our foreign partners,” he said.
“Any bank that is involved in that, one is that the headship of the bank will be prosecuted and the bank will either be fined or closed,” he said.
He emphasised that terrorist networks often rely on financial systems to demand ransoms and launder money.
“If a bandit demands ransom and they say that the money should be wired to them, it’s through where? Financial institutions. And we have laws that regulate that,” Boala explained.
Consequences for collaborators and negotiators
Bwala stressed that, with the support Nigeria will be receiving from the United States intelligence, anyone or Nigerian banks involved in aiding terrorist operations would face strong legal consequences.
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“In the coming days, we will know who terrorists are and who their financiers are.
“Once the government discovers that, either by way of investigation, by way of revelation, or by way of confession, because it can happen either of those ways, then judge us whether we are able to be firm or not. Nobody will be spared,” he stated.
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