The new anti-money laundering law in Nigeria has criminalized collection from anyone by anyone any amount above five million naira cash at a time or for a single transaction. For instance, if you sell your house for N5.5m and the buyer pays you in cash, you will go to jail.
Whether you pay a fine or serve the time, you will become an ex-convict for selling your property or goods and collecting cash.
This could be the reason why CBN has stipulated that for any cash withdrawal above N5m the beneficiary/account holder will be required to fill a lot of documents to enable the security agencies to follow the money.
The anti-money laundering law demands that everybody in Nigeria should route all payments in excess of N5m through a bank by way of electronic or manual bank transfers. The Nigeria Financial Intelligence Unit (NFIU), which is a specialized agency of the federal government that monitors follow money in Nigeria, wants to see the flow of the money to ascertain who is paying who and to trace payments to criminal elements in the society. NFIU works closely with EFCC, CBN, ICPC, DSS, Interpol, Nigeria Police and FIRS.
Again, traders could have over N5m sales proceeds in their shops or vaults but they must have documented evidence that no one customer paid more than N5m for goods. Hence, business people could take more than N5m to the bank to lodge into their accounts. However, bankers are under strict obligation to notify NFIU of any of such lodgements.
The unsaid side of this whole thing is that anyone who is caught with any amount above N5m cash would have to provide a satisfactory evidence to prove the source(s) of the money.
Why subject yourself to the danger of imprisonment if the source of your funds is genuine? Don’t fall into the temptation of receiving cash from anyone in excess of N5m.
Can you see why politicians are kicking against the recent cashless policy imposed by the Central Bank of Nigeria? It will impede their capacity to distribute large amount of cash for vote buying across the country even as they are presently contending with how to return to the banks, the old notes they had stored, that would become useless before the election. It is a big tragedy for wealthy politicians that depend on vote buying to win.
The money for vote buying is usually huge. For instance, the cost of purchasing 5,000 votes at a discounted price of N2,000 is N10,000,000 and payment is done cash.
Payment through bank transfers for vote buying will land both the giver and voter in jail as many people will be asked to come and explain inflows and outflows in and out of their accounts within the voting periods. This anti-money laundering law has now been made more effective by CBN’s cash policy. Nsogbu di!
The truth is that anyone who can handle N5m can learn how to make bank transfers. So, the court will not accept plea for ignorance. The law is clear on that. Hence, 30 lawyers cannot save anyone that violates this law because it is has a strict liability whereby the judge can do nothing but to convict the accused.
Commission says violence may mar election, prevent presidential poll winner from emerging
•Electoral body plans supplementary budget to replace destroyed buildings, equipment, others
•IG, EFCC boss warn politicians against inducement, survey puts 33 states on vote-buying watchlist
The Independent National Electoral Commission on Monday expressed concern that persistent attacks on its facilities were threatening successful conduct of the 2023 elections.
The commission also lamented that its past efforts to curb vote-buying failed, adding that the vice could mar successful conduct of the elections.
The electoral commission expressed the concerns at two different events in Abuja on Monday as part of the preparations for the elections.
Speaking at a two-day workshop on political violence and election security organised by the National Defence College in collaboration with African Global Empowerment and Development Network, the INEC chairman, Mahmood Yakubu, insisted that there must be an end to the attacks on its facilities as well as the insecurity ravaging parts of the country if the commission must conduct free, fair, and credible elections in 2023.
Yakubu added that if the attacks continued till next year, they could impede the successful conduct of the polls.
He also said if the insecurity in some parts of the country did not cease; it could affect candidates’ chances of having the required number of votes stipulated by the constitution to be declared the winner.
The chairman who was represented by INEC National Commissioner and Chairman, Information and Voter Education, Festus Okoye, stated, “The commission is preparing well for the 2023 general elections. Although, we have recorded some reverses in some of the states of the federation in relation to attacks on some of our facilities leading to the destruction of ballot boxes, voting cubicles, and permanent voter cards. We have the capacity to recover from these attacks.’’
He noted, “Since the 2019 general elections up till 2022, we have recorded 50 attacks in 15 states of the federation. The ones we recorded in 2022 are the ones we considered systematic and coordinated. They are targeted at derailing our commission from conducting free and credible elections. We are recovering and will recover.
“But if these attacks continue to January and February next year, it will be difficult for us to recover. This is because if you look at section 134 of the constitution, there are thresholds that a candidate must meet before he/she can be declared a winner of any election.’’
Yakubu further stated, “For instance, if no winner emerges on February 25, the law says we have to conduct a second election within 21 days and only two candidates out of the 18 will participate in this second election. The candidate that records the highest number of votes in that election would be considered number one. The second will be the candidate that secures the majority of votes in the majority of the states.
‘’The constitution did not say it is the person who came second. Also, If for instance, we are unable to conduct elections in some of the local governments it will definitely affect the calculation of the threshold required to make a declaration. We also have a constitutionally prescribed window with which we must conduct elections, so if we have sustained insecurity in the country, it may be difficult for the country to achieve this mandate given to us.”
He stated that the commission had sought the help of the National Assembly as well as the security agencies to ensure that its offices and staff’s security were given priority.
Yakubu added that the commission had commenced the replacement of materials lost to the various attacks, assuring that the BVAS machines needed for the 2023 elections would be made available before the end of the year.
He said, “We don’t want distractions. That is why we have made it very clear to the National Assembly that all our offices must be declared as a high priority that needs adequate protection. We don’t want these attacks to continue although we have assurance from the security agencies to protect our staff and offices.
“Already, we are reprinting the PVC damaged in some of the attacks, we are also purchasing new cubicles and ballot boxes to replace the ones lost to the attacks. We are trying to rent offices for those we can’t repair. But I want to assure Nigerians that we are prepared for this election. The entire BVAS needed for this election will be on the ground before the end of the month. “
The INEC chairman also assured that the Bimodal Voter Registration System cannot be manipulated, adding that those buying up PVCs were doing so to oppress voters.
“There is no way anyone can bypass the BVAS machines. They can only oppress voters by buying their PVCs. It is not possible for a PVC to be used by another person,’’ he assured.
Yakubu also disclosed that the commission had updated its Memorandum of Understanding with the various transport unions and would co-opt their leaders in the commission’s situation rooms.
Also, at a stakeholders’ summit on ‘Addressing the influence of money on the 2023 general election,’ INEC organised in collaboration with the MacArthur Foundation, in Abuja, Yakubu said inducement of voters could mar the elections.
He said, “The negative role of money in elections goes to the very heart of our democracy. It destroys the very basis of democratic elections which is that citizens should freely choose those who exercise power on their behalf. It renders the emergence of the right candidates for positions extremely difficult, undermines fair electoral adjudication, and destroys the professional and independent conduct of INEC officials and other public agencies involved in elections.
“Even more worrisome is the high prospect that criminal money may find its way into our elections through money laundering. Above all, the pernicious use of money tremendously increases the likelihood of election violence due to a ‘win at all costs’ mentality among contestants who would have invested a fortune in the election.
‘’Surely, elections are not a business venture for profit. Instead, it is an application to serve the people with the understanding that they may prefer someone else on one occasion. But then, there would be an opportunity to reapply after four years.’’
According to him, the commission has over the years introduced a number of measures, including the slight reconfiguration of the polling units to bring the ballot boxes closer to the voting cubicles to discourage the exposure of the marked ballot papers by voters to vote buyers.
Yakubu laments
’We also banned the use of smart phones and photographic devices by voters in the voting cubicles. Yet, these measures have recorded limited success,’’ Yakubu lamented, adding that this informed the need to collaborate with relevant institutions to fight the menace of money influence in the electioneering process.
“We must mobilise every relevant national institution to support our effort. We must rely on the professional and other capacities of cognate agencies in our determination to improve electoral administration in Nigeria,” he said.
The INEC boss acknowledged that the EFCC, Independent Corrupt Practices and Other Related Offences Commission, the Newspaper Proprietors Association of Nigeria, National Broadcasting Commission and the Advertising Regulatory Council of Nigeria, ARCON have all pledged their cooperation in this regard.
While admitting that there are lawful means of dealing with election traders as it were, Yakubu added that more still needed to be done to stamp out the menace of financial corruption in the system.
His words, “The commission is aware that legal provisions and the actions of the agencies are critical but will not be enough to completely root out the deep-seated cancer of corrupt money in our elections. The concerted actions of citizens are crucial. Citizens must reject inducements to sway their votes through vote buying.’’
“They must also engage effectively in stopping the negative use of money in our electoral process generally by reporting cases to INEC and other agencies. In addition, civil society organisations should make this a major plank of both their pre-election and election observation activities. Financial institutions, religious organisations, traditional institutions, the media, civic bodies and, above all, citizens must also join in this fight,” he stressed.
That said, the INEC boss said those bent on doing business as usual would expectedly fight back, noting, however, that the commission has resolved to run them out of their ignoble venture.
We fully realise that today’s initiative will not go down well with people who may not be committed to the growth of our electoral system and the consolidation of our democracy. We expect them to fight back. There will be both covert and overt pressure, countervailing actions and even threats by these vested interests.
‘’I wish to reiterate that our loyalty is to Nigeria and our allegiance is to Nigerians. We are committed to working with the collaborating agencies to see that this initiative succeeds in the 2023 general election and beyond,” he said.
EFCC chairman
Represented by his Chief of Staff, Hadiza Zubairu, the EFCC boss, Abdulrasheed Bawa, said over the decades, vote-buying has become a major obstacle to free, fair and credible elections in Nigeria.
Warning politicians, he said the EFCC would continue to monitor compliance with section 2 of the Money Laundering (Prevention and Prohibition) Act, 2022 on “limitation to make or accept cash payment,” in the processes leading to the 2023 elections.
Usman Baba, the IG represented by Assistant Inspector General of Police (Operations), Bala Ciroma, on his part, identified violence, thuggery, use of money and ballot box snatching as some of the ills threatening credible elections in Nigeria.
Meanwhile, nine weeks to the general elections, INEC has said it will require additional funds to replace the buildings, permanent voter Cards and other assets destroyed in various attacks on its facilities across the country.
The commission explained that it would decide the appropriate time to request for the funds.
The PUNCH reports that the electoral body had so far recorded 50 attacks on its facilities across 15 states in the last four years.
Speaking with The PUNCH on the impact of the attacks on the commission’s preparation for the polls on Monday, the Chief Press Secretary to the INEC chairman, Mr Rotimi Oyekanmi, affirmed that more financial resources would be required to address the losses the commission had suffered in recent times.
He stated, ‘’Definitely, more funds will be needed to replace destroyed buildings and resources. However, the commission will, if the need arises, decide on the appropriate time to approach the National Assembly for additional funds.’’
Asked if the commission had set up a committee to assess the destroyed assets and compute the costs, Oyekanmi said this has yet to be done.
When asked if the National Assembly would accede to funding request by INEC, the spokesperson to the Senate, Senator Ajibola Basiru, said that the outcome of such a decision cannot be pre-empted until it is debated on the floor of the Senate after the request might have been made.
In an interview with our correspondent, the Director of Strategic Communications of the National Election Management Committee of the Peoples Democratic Party Presidential Campaign Council, Chief Dele Momodu, said the PDP would champion any course aimed at making sure that the 2023 elections are held as scheduled.
He stated, “The party will support anything that will make the forthcoming elections take place. We must not give chances to bad people in this country. The President, Major General Muhammadu Buhari (retd.) has repeatedly promised to deliver hitch-free elections in 2023 and as a party and campaign council committed to the sustenance of democracy, we will continue to support INEC. So, the commission has our support on this,” he said.
Similarly, the Deputy National Publicity Secretary of the party, Ibrahim Abdullahi described additional funding for INEC as rational, stressing, ‘’it is in our overall interest provided that will justifiably facilitate credibility of the process whilst enhancing electoral integrity. Accordingly, INEC’s request is logical, rational and informed.”
Also speaking, the National Chairman of the All Progressives Grand Alliance, Chief Victor Oye, urged the National Assembly to spare no effort in assisting the electoral umpire to deliver on its mandate.
“The National Assembly should listen and address the needs of INEC. This is to ensure that the 2023 elections hold as expected,” he said.
On his part, the National Publicity Secretary of the Social Democratic Party, Rufus Aiyenigba said INEC is in a better position to know what impact the damage to its facilities would have on the conduct of the elections.
“They (INEC) know the challenges they are facing. The commission has been doing very well in the past few years and we have no reason to doubt that in reaching out to the lawmakers for help, they truly need it. The supplementary budget is a legitimate request and we are fully behind them,” he added.
Mr Peter Obi, Labour Party Presidential candidate, has said the conviction of his Campaign Organisation’s Director-General, Dr. Doyin Okupe, over alleged money laundering would not break his resolve to be Nigeria’s President.
Obi said this during interaction with journalists in Uyo at the Nigeria Union of Journalists (NUJ), Akwa Ibom State Council Secretariat on Monday.
The labour party presidential candidate said he was undaunted by the conviction and would continue with his campaign and allow the due process of law to take its course.
I am hearing about it (the conviction) just like you. I am still studying what is coming out of the Court and everything. I believe in the rule of law. It is not going to demoralise me.
Today, when I arrived Akwa Ibom somebody asked me why I haven’t been using my aircraft because it has been grounded and all that, and I said to him that nothing demoralises me.
In my life, I have never stayed where they dropped me, otherwise, I would have been where they dropped me before. This election, if they like, let them do anything about people who are around me. I will get there,” Obi said.
On the impression that he does not have political structure to win the presidential election, he said he was determined to dismantle the existing political structure in the country which encouraged corruption and spread poverty among Nigerians.
“The structure they have today is the structure we want to destroy. It is the structure of criminality. It is structure that produced 133 million people living in poverty,
It is the structure that produced 20 million out of school children. It is the structure that has made Nigeria surpass India in infant mortality. It is the structure that will destroy Nigeria and we want to destroy that structure,” he said.
The LP presidential candidate added that his priority would be how to secure a United Nigeria and pull people out of poverty.
He that said if elected president of the country come 2023, he would work towards the realisation of the Ibaka Deep Seaport in Akwa Ibom.
He said, “my problem is how to create a future and make Nigeria a productive and not a consuming nation.”
Ngozi Odumuko, a member of Anambra State peace, justice, truth, and reconciliation commission has officially resigned.
The peace, Justice, truth and reconciliation commission was set up by governor Chukwuma Soludo in order to tackle the security challenges in the state.
Meanwhile, Odumuko in her resignation letter addressed to governor Soludo, said she decided to resign from the commission because it appears quite unclear to her since its inauguration how the commission intend to achieve the real reason for which it was established.
She however, explained that after praying and discussing the matter with her immediate family and their joint resolve is that it will be honorable that she resign from the commission.
Part of the letter reads, “Mr Governor, I write to express my appreciation for the opportunity given to me to serve in the commission. And I would like to say a very big thank you for the opportunity and the confidence reposed on my person.
“Your Excellency, please if you may recall we had intense discussions prior to the formation of this commission on how urgent it is for us to address the insecurity bedeviling our region and for us to collectively take immediate and urgent steps in solving this problem. It is quite unclear to me since the inauguration how the commission intends to achieve the real reason for which it was established. I fear that things are not very clear to me in the commission’s approach in solving this urgent problem.
“On this note I regret to say that I have prayed and discussed this with my immediate family and our joint resolve is that it is only honorable that I resign from this commission at this time. I will continue to provide all manners of support and pray for the government and people of Anambra state, the commission and pray for the good people of Alaigbo and Nigeria. Meanwhile, I sent an earlier note on the security and future of Alaigbo.
“Again, I thank you for the opportunity to serve.
“Thank you, Mr Governor.”
Few months ago , two prominent Nigerians Viz Charles Oputa ( Charlie boy) and Onyeka Onwenu have resigned their membership from the Commission due to non seriousness of Soludo Administration to pursue the root cause of agitation in the South east as per the reason for setting up the Commission.
Doyin Okupe, a former Senior Special Adviser to former President Goodluck Jonathan, has been convicted by the Federal High Court in Abuja, for violating the Money Laundering Act.
Justice Ijeoma Ojuwku of the Abuja court on Monday found Okupe, who is the first defendant in the suit filed by the Economic and Financial Crimes Commission (EFCC) guilty of receiving over N200 million cash from former National Security Adviser (NSA). Col. Sambo Dasuki.
According to the Judge, “there is no evidence that the money passed through a financial institution”, expressing that the Act provides that no individual or organization shall receive any sum above N5 million and N10 million respectively without passing through a financial institution.
The court held, “I find the first defendant, Dr Doyin Okupe guilty in count 34, 35, 36…… 59.
The judge however found the defendants not guilty in counts 1 to 33 on the grounds that the prosecution failed to establish the charge of money Laundering and criminal breach of trust and corruption against the NSA.
The leader of Afenifere, a pan-Yoruba socio-political organisation, Chief Ayo Adebanjo, has said he and former President Olusegun Obasanjo are united in their support for the presidential candidate of the Labour Party, Mr. Peter Obi, to win the 2023 presidential election.
He said their support for Obi was for a better Nigeria.
Speaking in an interview with our correspondent on Friday, Adebanjo, who had on behalf of Afenifere endorsed Obi as their preferred candidate, noted that his past issues with Obasanjo were not personal and that they were united in rooting for Obi to emerge as the next president.
A video emerged during the week showing Obasanjo, Adebanjo, Obi and others at a condolence visit to the family of the late Minister of Aviation, Mbazulike Amechi, who died at 93 on November 1, 2022.
Obasanjo, who did not mention any name while speaking at the gathering, said, “What I believe and what I believe that Chief Ayo Adebanjo believes is not ethnic, sectional or religious, it is Nigeria and Nigerians. When I go out and people thank me, I say, ‘What are you thanking me for?’ and I tell them, ‘Please, stop thanking me. Why should you be thanking me?’
“I believe in equity, justice and one Nigeria. I have shed my blood for this country. I have gone to prison for this country, so what are you going to frighten or threaten me with? The only thing that my senior brother (pointing to Adebanjo) hasn’t done is that he hasn’t shed his blood, but he has gone to prison. Let us leave it at that.”
Adebanjo, however, interjected, saying, “You have not shed your blood, you only attempted to, because you are still alive,” a remark that drew laughter from him and the audience. Obasanjo swiftly responded in pidgin English, saying, “What of the blood I shed at the war front? I can show you where it hit me and nearly touched the wrong place,” as he pointed at and made a veiled reference to his private parts. His response was also greeted by laughter from the audience.
Obasanjo continued, “The problem we have right now is not ethnic, it’s national. For me, the first thing that is important in a leader is character. The problem we have had over the years is that we don’t have leaders who have the right type of character for which they should be entrusted with a leadership role. So, if I put my finger on anything or anybody, it is because comparing one with another, I see that there is merit that would be of benefit.”
But while speaking with Sunday PUNCH,Adebanjo, who had in the past criticised Obasanjo over some of his actions when he was President, said, “What unites us is Nigeria. All the time I disagreed with him, there was no personal issue. It was on this issue of Nigeria and we agree it should be better. We all agreed that Obi is the man. That is why we are friends. And that was what we made clear to the people of the East. It was the question of Nigeria and we were able to demonstrate the importance of Obi’s victory in the election. Even people who do not agree on things agree on this one.
“That is to show you that we elderly people are united in one thing: bring Nigeria together. We are not looking at the past; that will not help us now. What will help us is to amend all the evil things that the (President, Major General Muhammadu) Buhari (retd.) government has done. The man (Buhari) is telling us he has done his best when his best is the worst administration we have had in the past 20 years.
Also, on his assessment of the campaigns so far, he said unlike the presidential candidates of the All Progressives Congress, Asiwaju Bola Tinubu; and that of the Peoples Democratic Party, Atiku Abubakar, only Obi had been having issues-based campaigns.
He stated, “Not all of them have been having issues-based (campaigns) and that is the truth, but Obi has been running issues-based campaigns. He has been very consistent about what he plans to do. Tinubu’s people have been abusing people, while Atiku’s people are also attacking them.
Mr and Mrs Ezeaku Chukwuemeka were kidnapped on their way coming back from Adoration at Holy Ghost Adoration Ministry Uke with their 4 months old baby now 7 months.
They were kidnapped around Uke- Nobi road and their children abandoned.
The kidnappers demanded for a ransom which was paid,but after the kidnappers received the ransom,they didn’t release the couple rather they switched off their phone and no one heard from them again.
After two months they were found dead along Nobi – Uke road.
The deceased are from Ukpo Dunukofia Local Government. Please pray for their happy repose and for God to give them justice. Evil will not rule in the land of the righteous.
Some shops at the Ose Main Market, Onitsha, Anambra State, have been gutted by fire.
The cause of the fire is yet to be ascertained as of the time of filing this report, but it was gathered that it started at about 1.02 am on Saturday.
The shops are located at 4, Ajasa Street, where they sell drums of chemicals.
Confirming the incident in a statement, the Anambra State fire chief, Martin Agbili, said firefighters who were immediately deployed to the scene, after a distress call, battled the fire all through the night.
He said, “At about 1:02 am on Saturday, the Anambra State Fire Service, received a distress call of a fire outbreak at No 4 Ajasa Street, Ose Main Market, Onitsha, where they sell drums of chemicals.
Immediately, we deployed our fire truck and our ever-ready and fearless Firefighters to the fire scene. We swift into action, battled the fire, controlled and fought it to a standstill.
“The cause of the fire was unknown as nobody was there when it started. Although, the fire destroyed about three shops but no life was lost during the heavy fire. A lot were saved as we prevented the fire from spreading to other shops around the fire incident scene.
It is important to know that we must always switch off of our electrical and electronic appliances especially when it is not in use.
“We must also know that we are at the peak of the harmattan. Avoid anything which can cause fire outbreak at this season.”
A Senior Advocate of Nigeria, Mike Ozekhome, and family of the Indigenous People of Biafra leader, Nnamdi Kanu, will on Friday release a cheque of N1m for his drugs and feeding.
This was as the Special Counsel to Kanu, Aloy Ejimakor, raised the alarm after visiting Kanu with his family members on Thursday.
Ejimakor said, “I visited Mazi Nnamdi Kanu in company of Prince Emma Kanu and Barr. Nnaemeka Ejiofor.
He instructed me to make it public that he has not been given his drugs for the past nine days and he has not eaten today because DSS says that they don’t have money to buy his food.”
Ejimakor described this startling revelation as “sad”.
Confirming this development, Kanu’s younger brother, Prince Emma Kanu said, “This is a confirmed story.
