FEDERAL GOVERNMENT ANNOUNCES PLANS TO PROFILE NGO’s

“It is just very crucial that NGOs need to be sensitised because most of them do not really understand their obligations under the AML/ CFT regulations and laws. Like obligations to report transactions to the relevant authorities, to keep record of their transactions, to conduct due diligence on their sponsors.

“These are necessary because they could ignorantly receive donor funds from people whose aims are basically to finance terrorism or maybe cause some kind of mayhem”, he added

Penpushing, however, recalled that the NGO bill failed in the parliament after it was opposed by civic groups, activists and many Nigerians who saw it as government’s efforts to stifle NGOs.

The Director-General of GIABA, Kimelabalou Aba  in his remark said the workshop was a follow-up to a previous regional workshop on preventing terrorist abuse of non-profit organisations held Lome, Togo, in 2017, recalling  that the 2017 workshop highlighted gaps in the implementation of AML/CFT requirements by NGOs.

“Lately we have noticed that NPOs have been used by terrorists or terrorist organisations in order to raise funds; it is within that framework GIABA organised this workshop. “This workshop is directed towards reporting entities namely NPOs in order to help to be better equipped so as not to be used for terrorist purposes.”

The Director-General also reiterated the organisation’s support to member countries to fight the menace of terrorist financing and money laundering.

“Our efforts are no doubt yielding results, nonetheless, the dynamic nature of the criminal world and the continuing menace of terrorism and terrorist financing make it imperative for us to keep partnering and exploring better ways to deal effectively with the problems’.