Security
agencies in collaboration with banks and other financial institutions in the
country are monitoring accounts belonging to foreign embassies, politically
exposed persons and other high net worth individuals.
Investigations
by The PUNCH’s showed
such accounts were those that could be used to launder money and
finance terrorism.
It was
gathered that security agencies categorised politically exposed persons as
individuals entrusted with prominent public offices in Nigeria or
foreign embassies and officials as well as
people associated with them.
They
also include former heads of state; state governors; local government
chairmen , senior government, and political party officials and their
family members.
Also
being monitored are accounts of former governors, ex- local government
chairmen, ex-senior government officials and their counterparts in the
judiciary.
Investigations
showed that the monitoring system was activated in late 2012 as part of
security strategies to cut off the sources of funding for terrorism and other
criminal enterprises in the country.
It was
learnt on Sunday that the monitoring strategy was based on the Central
Bank of Nigeria risk-based supervision framework.
Security
sources told one of our correspondents that certain embassies or foreign
consulate accounts which posed a higher risk in the areas of terrorism funding
were getting special attention from officials.
It was
learnt that the officials were expected to file reports
on their monthly transactions with the CBN and
appropriate security agency(cies) for analysis and action.
The
banks are said to ‘redflag’ accounts where substantial currency
transactions take place, particularly if it was owned by countries that
have been designated as higher risk . Such countries include Iran,
Mauritania, Yemen, Pakistan, Sudan, Afghanistan, Lebanon, and other
nations associated with violent Islamic groups.
Some
Nigerians involved in terror-related activities are believed to have been
trained in Yemen, Pakistan, Mali, Mauritania and others.
One of
the security sources said on Sunday that, “Banks are
expected to redflag accounts belonging to certain embassies or politically
exposed persons like governors especially if the account activity is not
consistent with the purpose of the account.
“Ongoing
monitoring of embassy and foreign consulate account relationships is
critical to ensuring that the account relationships are being used as
expected.”
It was
learnt that security agencies had identified prepaid credit/debit cards as a
source of criminal funding based on the fact that some card
holders use false identification and also load cash from illicit sources
onto their cards.
According
to our source, such card holders usually send
transfer funds to their accomplices inside or outside the
country for criminal activities.
Investigations
indicated that prepaid cards were being used as illegal cash transfer point by
criminal-minded individuals on account of the anonymity of the cardholder,
fictitious cardholder information, easy cash access of the card and the huge
volume of funds that could be transacted on the card.
The
fact that credit card can easily be used and reloaded from any geographical
point that has an ATM machine, makes it the preferred tool
for money laundering ,it was gathered.
It was
also learnt that each bank was required to submit the financial transactions of
at least 50 of its most active customers who must include PEPs, private
investment companies, Non-Governmental Organisations, consulate accounts,
brokers, and anyone with access to government assets.
The
State Security Service, police and immigration are also investigating the
nationals of some countries tagged “nations sponsoring terrorism.”
When
contacted, Director, Corporate Communications Department, CBN, Mr. Ugochukwu
Okoroafor, denied knowledge of such accounts being placed on surveillance.
He
said, “This is news to me, I am hearing it for the first time from you.”
The
Deputy Force Public Relations Officer, Frank Mba said the police were
doing everything possible to check terrorism, stressing that the Force was
deploying every necessary strategy to check crimes in the country.
“I
won’t say the police are working with banks to monitor every bank accounts, but
we are actively deploying our strategies in checking terrorism by
cutting off their sources of funding,” he stated.
SUNDAY
PUNCH had
earlier reported that security agents were on the trail of three different
foreign-sponsored terror cells in the country.
A
senior security official had identified the sponsors of the terror cells as
being resident in Sudan, Somalia and Yemen. The terror cells were similar to
the Iranian cell uncovered by the State Security Service last month.
The SSS
had also paraded a leader of an Islamic sect, Abdullahi Berende, and two others
said to be members of the Iranian terror cell gathering information about
Israelis and Americans living in Nigeria.
Fifty-year-old
Berende, Sulaiman Saka and Saheed Adewunmi, were said to be working for Iranian
terrorists planning to attack Americans and Israelis in the country. A third
suspect, Bunyamin Yusuf, is said to be at large
Source:
Punch
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