Rauf Aregbesola, minister of interior, says some security
challenges bedevelling Nigeria can be solved if the financial lifeline of
terrorists are cut off.
Aregbesola spoke on Friday in Abuja at the inauguration of a
10-member inter-ministerial committee set up to implement the adoption and
implementation of the assigned roles to the ministry.
The minister said the inauguration was based on the
Financial Action Taskforce (FATF) implementation roadmap adopted by the federal
government.
He said a great deal of the security challenges facing the
county in recent time could be attributed to the activities of economic
saboteurs “who indulged in illegal financial dealings to the detriment of the
country”.
He, however, reaffirmed the federal government’s commitment
to the fight against money laundering and terrorism financing in Nigeria.
“Let me reiterate the federal government’s unflinching
commitment to the eradication of money laundering, financing of terrorism and
related corrupt practices,” he said.
“This has made us willing and active partners with other
African and indeed global partners in this advocacy and fight.
“Some of the security
challenges facing the country at the moment can be resolved if the financial
lifeline of the actors were cut off.
“That some of them are still in business suggests strongly
that they have strong internal or external financial linkages.”
The minister added that the menace posed a serious threat to
economic development.
“As money laundering undermines the legitimate private
sector and the integrity of financial markets, loss of control of economic
policy, causes economic distortion, instability and loss of revenue, among
others,” he said.
He urged the committee to work assiduously to deliver on the
terms of reference assigned to them to enable the country achieve the standards
that would improve its rating by the FATF and International Cooperation Review
Group (ICRG).
The 10-member committee is headed by Shuaib Belgore, the
permanent secretary in the ministry.
The agencies involved are the Nigerian Immigration Service
(NIS), Nigerian Correctional Service (NCOs) and the Nigerian Security and Civil
Defence Corps (NSCDC).
The committee is expected to report to the minister every
two weeks on progress assessment.
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