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FATF adds Nigeria and South Africa to anti-money laundering watchlist

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The Financial Action Task Force (FATF) has added Nigeria and South Africa to its “grey list” of countries that need to intensify efforts to tackle money laundering and terrorism financing.

FATF is a intergovernmental policy-making body that seeks to combat money laundering and the financing of terrorism.

FATF said the two African countries were added to its list on Friday following a review.

The organisation explained that the inclusion of a jurisdiction to its grey list means that the country has committed to swiftly resolve the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.

“Jurisdictions under increased monitoring are actively working with the FATF to address the strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing,” FATF said.

“New jurisdictions subject to increased monitoring are South Africa and Nigeria.

“The FATF and FATF-style regional bodies (FSRBs) continue to work with the jurisdictions below as they report on the progress achieved in addressing their strategic deficiencies.

“The FATF calls on these jurisdictions to complete their action plans expeditiously and within the agreed timeframes.

“The FATF welcomes their commitment and will closely monitor their progress. The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions.”

For the “illegal, unprovoked and unjustified full-scale military invasion of Ukraine”, since February 24, 2022, the FATF also suspended the membership of Russia.

“The Russian Federation’s continuing and intensifying war of aggression against Ukraine runs counter to FATF’s principles of promoting security, safety and the integrity of the global financial system and the commitment to international cooperation and mutual respect upon which FATF Members have agreed to implement and support the FATF Standards,” it said.

“As a result, the FATF Plenary has today suspended the membership of the Russian Federation.”

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Ododo surrenders Yahaya Bello to EFCC

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Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Yahaya Bello, former governor of Kogi state.

TheCable understands that Usman Ododo, Kogi governor, brought Bello to Abuja this morning and invited EFCC to come pick him up.

The EFCC had charged the former governor with alleged money laundering, breach of trust, and misappropriation of N80.2 billion.

In April, the commission declared Bello wanted after several attempts to arrest him proved unsuccessful.

On August 20, the court of appeal in Abuja ordered Bello to surrender himself for arraignment.

Ola Olukoyede, EFCC chairman, would later allege that Bello withdrew $720,000 from Kogi coffers to pay his child’s school fees in advance.

The anti-graft agency also filed a 19-count charge against Bello over alleged money laundering.

However, the arraignment was stalled due to the absence of the former governor.

In May, Abdulwahab Mohammed, counsel to Bello, told the court that the former governor’s whereabouts remain unknown and that he was nurturing some safety concerns.

On August 20, the court of appeal in Abuja ordered Bello to surrender himself for arraignment.

Dele Oyewale, EFCC spokesperson, had said the court’s ruling was a “vindication” of the EFCC’s stance that Bello must face trial.

Sources had told TheCable that Bello has been hiding in plain sight — holed up in the “protective custody” of the Kogi state government — since he was declared wanted by the EFCC.

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Tinubu writes reps, seeks Oluyede’s confirmation as COAS

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President Bola Tinubu has asked the house of representatives to confirm Olufemi Oluyede as the substantive chief of army staff (COAS).

Tinubu’s request is contained in a letter read by Tajudeen Abbas, speaker of the house of representatives, during plenary on Tuesday.

Tinubu said Oluyede’s confirmation is in accordance with the provision of section 218(2) of the 1999 constitution as amended and section 18(1) of the Armed Forces Act.

The president said the army chief’s contribution to the military and Nigeria makes him “well-suited” for the role.

He said Oluyede has been professional in his duties, adding that his confirmation should be done “expeditiously”.

On October 30, Tinubu appointed Oluyede as the acting COAS following the prolonged illness of Taoreed Lagbaja, the former army chief.

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Governor Nwifuru suspends health, housing commissioners

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The Ebonyi State Governor, Francis Nwifuru, has suspended the state Commissioner for Health, Dr. Moses Ekuma and his Housing and Urban Development counterpart, Francis Ori.

It was gathered that they were suspended on Monday during the State Executive Council meeting in Abakaliki, the state capital.

A statement issued by the Commissioner for Information and State Orientation, Jude Okpor, which was sighted by our correspondent on Tuesday morning, read, “Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health respectively.”

It was also learnt that the development may be connected to the alleged theft of pieces of property belonging to the Ministry of Health by its officials and the reported underperformance of the Housing and Urban Development commissioner and his shoddy handling of the Amaeze Housing Scheme in the Ishielu Local Government Area of the state.

Recall that the governor was in the health ministry’s premises on Saturday night and met a scene where six officials were caught allegedly diverting government materials.

He, therefore, ordered their arrest and eventual prosecution.

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