Nuhu Ribadu, former Chairman of the Economic and Financial Crimes Commission on Wednesday speaking in Abuja at the 2nd Anti-money laundering/combating financial terrorism stakeholders’ consultative workshop organised by the Association of Certified Anti-Money Laundering Specialist alleged that a lot of investments being done in the country were from funds earned through illegal activities.
He said that there is a need for federal government to build a strong anti-graft institution which will spearhead the fight against money laundering. Ribadu disclosed that the restructuring of the banking sector had helped to restore confidence in the Nigerian economy.
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He said, “Everything that is wrong about Nigeria has to do with dirty money. If you can follow it, get it back and punish these people, then you have cured the problem of Nigeria.
“When I look around, I see a lot of investments done with dirty money. Government needs help in identifying and arresting these people. Though it may seem like a daunting task, with professionals like ACAMS, Nigeria is poised to achieve this.”
Ribadu said there was a need for collaboration between relevant stakeholders to fight money laundering and curb terrorism financing.
He said, “In 2003, Nigeria was on the blacklist of most developed countries especially the US for money laundering.”
