MONEY LAUNDERING: EFCC’s Intelligence Reports Point China, Dubai As New Destinations

INTELLIGENCE reports at the beginning of the year that money launderers were picking on new destinations abroad and splitting monies to be laundered among several couriers; both designed to avoid suspicion and evade arrest, got the Economic and Financial Crimes Commission (EFCC) huge success in intercepting most of the bulk cash couriers at various airports in the country.
Chairman of the commission, Mr. Ibrahim Lamorde, last Monday, declared that over N15.5 billion primed to be laundered abroad had been intercepted by the commission this year.

Twenty-four hours after his disclosure, the most prominent so far of the cash courier suspects, Aminu, the eldest son of the Jigawa State governor, Sule Lamido, was arrested at the Mallam Aminu Kano International Airport (MAKIA), Kano, with $50,000.

Just like others caught before him, commission’s spokesperson, Mr. Wilson Uwujaren said he only declared $10,000  which is the amount allowed on a foreign trip, while further search revealed the hidden additional $40,000.

Sunday Tribune gathered that Aminu, who was headed to Cairo before the arrest, was released on administrative bail by the commission Thursday evening, with his travel documents reportedly seized.

Uwujaren who confirmed his release on administrative bail, said his trial date was yet to be fixed.

A commission source told Sunday Tribune that further intelligence scrutiny had revealed China and Dubai, United Arab Emirates as the preferred destinations of the cash couriers caught so far by the commission.

The source noted that it could not be established if the arrested couriers planned to move to another points outside of these Arab and Asia countries.

When Switzerland became hostile to them, suspected money launderers reportedly shifted their focus to tiny islands in Europe, like Cayman Island and Isle of Man, but recent global attention on them as money laundering havens was said to have forced the launderers to find new destinations that would attract less suspicion.

The new choice destinations are known as global commercial nerve centres.

Speaking on the Aminu Lamido case, and his father’s denial of sending him on the errand, Uwujaren noted that nobody had accused the governor of any crime, but investigations would still be on before Aminu would be charged to court.

It was further learnt that the commission had not been making much success in unmasking those sending the cash-couriers on the money laundering errands because the suspects had been keeping mum on their sponsors.

Uwujaren attributed this to the weak laws on money laundering cases, which come with very light sentence and forfeiture of a part of the laundered money, which appears convenient for the sponsors and couriers.

When asked if the commission would move to strengthen the laws, he said something was being done about it.

The Special Task Team, comprising operatives of the commission and officers of the Nigerian Customs, reportedly intercepted at the airports over $9 million cash in less than three months of its existence.

Investigations reportedly unearthed how the sponsors of the money laundering deals now distribute huge cash in foreign currencies to many couriers in order to make what would be in the possession of each very insignificant and make it seem a honest mistake or normal travelling businessman’s prank when caught.

The launderers were said to have given banks a wide possible berth because of the increased surveillance on suspicious lodgement and transfers abroad, with banks reportedly cooperating more on reporting such suspicious movements of money.

Sunday Tribune also gathered that commission had put a wide range of top public officers and businessmen under surveillance, with a commission source adding that “money laundering is not only limited to governors, ministers and others in government, though they are constantly monitored because they hold public funds in trust, businessmen are also being monitored, as well as young men and women being used as couriers”.

The largest single haul intercepted by the commission was $7 million (N1,12 billion) found in the possession of a 24-year old suspect, Abubakar Tijani Sheriff, at Murtala Muhammed International Airport in Lagos in September, which he claimed belonged to 20 powerful Nigerians whose identities he never disclosed.

Source: Tribune