EFCC Flags-Off National Risk Assessment of Non Profit Organisations

EFCC Flags-Off National Risk Assessment of Non Profit Organisations

Nigeria’s Anti graft Agency, the Economic and Financial Crimes Commission, EFCC, has flagged-off a nationwide risk assessment of Non-profit Organisations.


The programme is a collaborative initiative of the EFCC through the Special Control Unit against Money Laundering, SCUML, and relevant stakeholders in the public and private sectors.


According to the EFCC Chairman, Abdulrasheed Bawa, it is meant to determine the vulnerabilities of the Organisations to money laundering and terrorism financing.


While noting the increase in Non-profit Organisation activities in Nigeria especially in the North East, where the country is challenged by a humanitarian crisis created by boko haram, Bawa observed that the absence of a unified comprehensive regulatory and supervisory framework for the sector remains a source of worry for the authorities.


He said, “This gap, and  Nigeria’s performance in the last  Mutual Evaluation Exercise where the country received a non-compliant rating in FATF’s Recommendation 8, (that requires a review of the adequacy of laws and regulations that relate  to Non- profit Organisations), provides the impetus for the NRA”.


Improved Compliance
The EFCC boss said that the assessment, apart from ensuring proper classification of the NPOs sector in Nigeria to identify NPOs that are at risk of money laundering/terrorist financing abuse, would ensure improved compliance with relevant international, regional and domestic laws/regulations.


It will also help in developing mitigating measures for the “at risk and vulnerable NPOs” operation in Nigeria, while enhancing coordination and collaboration between government regulatory/law agencies and the civic space.


Also speaking, the Director Special Control Unit against Money Laundering, SCUML Mr.

Daniel Isei, said, the engagement gave the EFCC a robust opportunity to discuss the menace of money laundering and terrorism financing and come up with a comprehensive report to mitigate identified risks.


The Director, International Non-Governmental Organisation Forum, INGO Forum, Mrs.

Chiara Crenna, in a remark, expressed the willingness of INGO in Nigeria to work with SCUML and the EFCC towards the success of the NPO Risk Assessment programme.

The Director of the Nigerian Network of NGOs Mr.

Oluseyi Oyebisi  also pledged the organisation’s support to the programme.

He described the programme as the start of an important journey and an example for the rest of Africa, on how regulators and operators can partner in fighting money laundering.

Confidence Okwuchi
EFCC Flags-Off National Risk Assessment of Non Profit Organisations

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