The Director of Public Prosecutions of the Federation (DPPF), Federal Ministry of Justice, Mr. Mohammed Saidu Diri has described organised crimes and indeed financial crimes as amongst the major threats to the global economic system.
Mr. Diri stated that organised crimes and financial crimes, which have taken the centre stage in the global world entail intricate layers of criminal conspiracy and responsibility, with cross border implications as different components of "predicate crimes."
The public prosecutor made this observation in Lagos, at the 2015 Capacity Building Workshop for Law Enforcement Agencies organised by the Nigeria Deposit Insurance Corporation (NDIC).
The two-day workshop which drew participants from various Law Enforcement Agencies including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigeria Police, Federal Ministry of Justice etc. was held at Golden Tulip Hotels, Festac, Lagos.
Mr. Diri, who was represented at the workshop by Mr. Ernest Ezebilo asserted that the investigation of financial crimes in this high-tech globalised world required men and women of sound technological know-how and that such level of skills can only be possible through capacity building programmes such as the one organised by the NDIC.
"Financial crimes and Terrorism are criminal acts that are inextricably intertwined and in this era of terrorist attacks on Nigeria and her citizens, terrorist financing is the most deadly act of terror as without the financial capability, the terrorists cannot carry out any attacks.
"Money laundering as a form of financial crime has become a phenomenal criminal activity as almost all proceeds of financial crimes are laundered to safety, until our law enforcement agencies are equipped to trace, find and recover all proceeds of crime, the criminals will always be ahead of the public security institutions", he stated.
Diri encouraged the agencies in the front burner of the fight against corruption to be steadfast and never give up on their mandate, adding that corruption is the bane of the country's national development and the Nigerians are counting on them.
"Corruption, I cannot in all honesty address you without mentioning this issue, most importantly because it is the bane of our national development but most practicably because it falls within your mandate. The current administration of President Muhammadu Buhari has decided in words and in deeds to purge our dear country of this cankerworm that has hindered us from attaining national development commensurate to our economic fortunes. The president and indeed Nigerians are counting on all of us", Diri further stated.
Earlier in his keynote address, the Managing Director/Chief Executive Officer of NDIC, Alhaji Umaru Ibrahim lamented the incidence of fraud in Nigeria’s banking system, adding that this has continued to be a great concern to the Corporation going by the magnitude of losses recorded over the years.
Alhaji Ibrahim, who was represented by Alhaji B.D Umar noted that the experience with those banks that were closed between 1994 and tilldate clearly illustrated the trend and the damaging impact of fraud on the affected banks.
"Many of the banks under liquidation as well as many in operation have suffered a great deal from the impact of fraud.
"The Corporation had identified various stakeholders and made efforts to collaborate on issues that pertain to the stability of the Nigerian financial system and our law enforcement agencies are one of such key stakeholders.
"The role of law enforcement agencies in the fight against bank fraud cannot be overemphasised given the fact that without an effective law enforcement mechanism, the incidence of financial crime would be difficult to prevent or curtail", the NDIC MD explained.
Mr. Diri stated that organised crimes and financial crimes, which have taken the centre stage in the global world entail intricate layers of criminal conspiracy and responsibility, with cross border implications as different components of "predicate crimes."
The public prosecutor made this observation in Lagos, at the 2015 Capacity Building Workshop for Law Enforcement Agencies organised by the Nigeria Deposit Insurance Corporation (NDIC).
The two-day workshop which drew participants from various Law Enforcement Agencies including the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigeria Police, Federal Ministry of Justice etc. was held at Golden Tulip Hotels, Festac, Lagos.
Mr. Diri, who was represented at the workshop by Mr. Ernest Ezebilo asserted that the investigation of financial crimes in this high-tech globalised world required men and women of sound technological know-how and that such level of skills can only be possible through capacity building programmes such as the one organised by the NDIC.
"Financial crimes and Terrorism are criminal acts that are inextricably intertwined and in this era of terrorist attacks on Nigeria and her citizens, terrorist financing is the most deadly act of terror as without the financial capability, the terrorists cannot carry out any attacks.
"Money laundering as a form of financial crime has become a phenomenal criminal activity as almost all proceeds of financial crimes are laundered to safety, until our law enforcement agencies are equipped to trace, find and recover all proceeds of crime, the criminals will always be ahead of the public security institutions", he stated.
Diri encouraged the agencies in the front burner of the fight against corruption to be steadfast and never give up on their mandate, adding that corruption is the bane of the country's national development and the Nigerians are counting on them.
"Corruption, I cannot in all honesty address you without mentioning this issue, most importantly because it is the bane of our national development but most practicably because it falls within your mandate. The current administration of President Muhammadu Buhari has decided in words and in deeds to purge our dear country of this cankerworm that has hindered us from attaining national development commensurate to our economic fortunes. The president and indeed Nigerians are counting on all of us", Diri further stated.
Earlier in his keynote address, the Managing Director/Chief Executive Officer of NDIC, Alhaji Umaru Ibrahim lamented the incidence of fraud in Nigeria’s banking system, adding that this has continued to be a great concern to the Corporation going by the magnitude of losses recorded over the years.
Alhaji Ibrahim, who was represented by Alhaji B.D Umar noted that the experience with those banks that were closed between 1994 and tilldate clearly illustrated the trend and the damaging impact of fraud on the affected banks.
"Many of the banks under liquidation as well as many in operation have suffered a great deal from the impact of fraud.
"The Corporation had identified various stakeholders and made efforts to collaborate on issues that pertain to the stability of the Nigerian financial system and our law enforcement agencies are one of such key stakeholders.
"The role of law enforcement agencies in the fight against bank fraud cannot be overemphasised given the fact that without an effective law enforcement mechanism, the incidence of financial crime would be difficult to prevent or curtail", the NDIC MD explained.
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