Money laundering: Magu sensitises jewellery marketers


The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu on Monday charged members of the Jewellery Marketers Association of Nigeria, (JMAN) and their officials not to be used as conduits in money laundering and terrorist-financing activities.

Francis Usani, Head, Special Control Unit against Money Laundering, (SCUML), who spoke on behalf of Magu at a one-day workshop for JMAN members, charged the marketers to adhere strictly to the control measures put in place to regulate the jewellery and other sectors in the Designated Non-Financial Institutions, DNFIs.

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Usani spoke at the EFCC Academy, Karu, Abuja,

Usani said the exercise was important to further educate operators in the jewellery sector in order for dealers not to be used as conduit by criminals to perpetuate crime. “Ignorance should not be an excuse to commit crimes,” he said.

Special Control Unit against Money Laundering, (SCUML), is sensitizing members of DNFIs, following assessment reports that indicate that sectors in the DNFIs are vulnerable to money laundering and terrorist-financing.

Usani further disclosed that the workshop was designed to create awareness and improve capacity of operators and stakeholders in the jewellery sector in the area of money laundering and terrorist-financing compliance.

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“We trust that after this sensitization workshop you operators shall go back and put the measures you have learnt in place, while on the other hand the EFCC will use the information gotten from these measures to combat and rid Nigeria of money laundering and terrorist-financing in a lawful and ethical manner,” Usani stated.

Alhaji Isa Usman, chairman of JMAN, stated that his association came up with initiative to partner with the EFCC in order to be abreast of the existing measures that have been put in place by SCUML, against money laundering and terrorist financing.

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“We as an association are law abiding citizens. We do not engage in illegal activities, that is why measures learnt here will be fully implemented by all association members’’ he said.

Usman added that the overall aim of the workshop was to train the association members on the ills of conducting business with criminals, especially as concerns laundering and terrorist-financing.

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