Erasmus Alaneme
20 November 2008
Lagos — Nigerian banks may have come under a fresh global scrutiny, following revelations by the London Metropolitan Police and the INTERPOL that the banks provide conduit pipes for much of the money laundering activities in the country.
The two agencies disclosed this during a recent meeting with Chairman of the Economic and Financial Crimes Commission (EFCC), Mrs. Farida Waziri, during her recent trip to England.
Already the shocking revelation has claimed its first victim, as the director in charge of National Finance Intelligence Unit (NFIU) in the EFCC, Hashina Okaro, has been sent on indefinite suspension for alleged culpability in the whole case.
A reliable source told Daily Champion said that beside the revelation of the continued transfer of billions of naira out of Nigeria on daily basis, the foreign security agencies said such activities are being perpetuated in connivance with banks and money launderers.
For the EFCC director of NFIU, it was alleged that he was in the total know of all the transaction as every inventory of the said illegal transfers were reported to his office but he was alleged to have swept them under the carpet.
The source said the infuriated EFCC chairman gave the order that he be placed on indefinite suspension immediately.
Daily Champion's attempt to get an official confirmation of the development was not successful as the spokesperson for the EFCC, Femi Babafemi was yet to return from a trip outside the country.
It was also gathered that the recent face-off between the EFCC and the Rivers State Government over alleged embezzlement of state funds would have been averted had the NFIU of the commission done his job dutifully, as the case was said to have been on the table of the Director but he paid blind eye to it.
The source said: "Even the case of transfer of billions of naira from a Rivers State Government account which was in the news recently and rocked that state was actually reported to the NFIU but the director did not report same to the commission or do anything to stop it nor alert the investigating department to do anything.
"It was during the EFCC Chairman's recent journey to England that she met with the Metropolitan Police and Interpol where she discovered that billions are still being transferred out of Nigeria illegally on a daily basis.
"It was unbelievable so she launched an inquiry into the findings from her meeting with Interpol and the Metropolitan Police to unravel how the illegal transfers escaped the attention of the commission the moment she got back.
"It was gathered that the findings of that inquiry revealed connivance between banks and money launderers on one hand while the commission was shocked to discover that the reports of some of those transfers were forwarded to NFIU.
"The discovery of Okaro's inaction led to his immediate suspension by the chairman because she could not believe it and I can tell you that the suspension is indefinite", the source added.
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