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ICPC, NFIU Open Stocktake on Financial Intelligence, Asset Recovery

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The Independent Corrupt Practices Commission (ICPC) and Nigerian Financial Intelligence Unit (NFIU) on Monday in Abuja commenced a three-day stocktake meeting focused on converting financial intelligence into prosecutions and asset recovery.

The ICPC Chairman, Dr Musa Aliyu, SAN, said this at the opening of the exercise, held in preparation for Nigeria’s Financial Action Task Force (FATF) 3rd Round Mutual Evaluation Exercise.

Represented by the Commission’s Secretary, Clifford Oparaodu, Aliyu said the exercise would test how effectively ICPC investigations were converting financial intelligence into prosecutions, asset recovery and stronger enforcement outcomes.

He said the stocktake provided an internal mirror to measure performance under the Money Laundering (Prevention and Prohibition) Act 2022, POCA 2022 and POCR 2024 regulations.

According to him, the Commission had in recent years made parallel financial investigations mandatory in every corruption case to strengthen the tracing of illicit funds and recovery efforts.

While stating that previous reviews focused largely on laws and policies, he said the stocktake would drill deeper into operational performance and assess Nigeria’s enforcement effectiveness.

He listed five Immediate Outcomes as benchmarks, emphasising that the exercise focused on FATF Immediate Outcomes 1, 2, 6, 7 and 8 for institutional assessment.

He said these included risk understanding, international cooperation, financial intelligence use, effectiveness of money laundering investigations and asset recovery, adding that participants would assess operational implementation.

On corruption risks, he said participants would assess whether the ICPC and sister agencies were aligning investigations with Nigeria’s national risk profile and identified priority threats.

“We must show that our operations reflect where the real threats are, including bribery and grand corruption,” he said.

For cross-border crime, he said the team would review formal Mutual Legal Assistance channels and informal intelligence networks to assess Nigeria’s capacity for international cooperation.

The goal, according to him, was to demonstrate that Nigeria could swiftly share information, support investigations and secure convictions through effective cooperation with international partners.

“A major focus will be on financial intelligence under Immediate Outcome 6. The question before the room: are agencies not just generating reports, but actually using them to trace illicit flows and freeze assets before they disappear?”

He said enforcement would receive significant scrutiny under Immediate Outcomes 7 and 8, with Nigeria expected to demonstrate results from relevant money laundering laws and regulations.

“That means convictions, confiscations, and proper management of recovered assets,” he said, urging institutions to provide verifiable evidence of operational effectiveness during the stocktake exercise.

He urged visiting Country Experts to be blunt in their assessment, saying their feedback would help Nigeria close gaps, clean up statistics and sharpen strategies before the main evaluation.

He said the commission had aligned with the NFIU’s strategy by making parallel financial investigations mandatory in every corruption case handled by its investigators.

He added that the ICPC now leveraged the Corporate Affairs Commission Beneficial Ownership Register to expose corporate shells and strengthened systems for managing recovered assets.

He, however, warned that laws alone would not secure a good rating, stressing that effective implementation and measurable enforcement outcomes remained critical to Nigeria’s assessment.

“Technical compliance is only half the battle. What ultimately safeguards our financial system is demonstrating high operational effectiveness across these Immediate Outcomes,” he said.

He charged ICPC investigators and prosecutors to be candid and data-driven, while welcoming country experts to provide objective feedback that would help close gaps before the evaluation.

Speaking, the Chief Executive Officer of NFIU, Hajia Hafsat Bakari, said the exercise was designed to measure how effectively anti-corruption agencies converted financial intelligence into concrete enforcement outcomes.

Represented by Dr Emmanuel Sotande, an NFIU official, Bakari said the exercise was not about fault-finding but about assessing institutional preparedness ahead of Nigeria’s next FATF assessment.

“We want to be able to see how well the information and investigation lead to prosecution, seizure of assets and whether there’s a deterrent mechanism in place,” she said.

According to her, the core objective was to track the full value chain of intelligence use, from information supplied by the NFIU to enforcement outcomes.

“That includes how data supplied by the NFIU is consumed by the ICPC and other agencies, and whether it translates into convictions, asset recovery, and stronger deterrence against illicit financial flows.”

The NFIU boss emphasised that the timing was critical, noting that Nigeria was preparing for its 3rd Round Mutual Evaluation 2027 and needed institutional readiness.

“This is not a witch-hunt exercise but to ensure that we prepare for the next evaluation, which is going to be taking place next year.

“We want all institutional agencies and systems in Nigeria to be ready for the FATF assessors that will be coming from all parts of the world,” she said.

She explained that the framework for the stocktake was developed by the NFIU specifically to enable agencies to evaluate their preparedness and identify areas requiring improvement before assessment.

She said that assessors would demand detailed data and evidence, much of which the ICPC already held, making inter-agency coordination essential to Nigeria’s preparedness.

“It is in that context that the CEO of NFIU deems it fit to put the framework of the stocktake exercise in place for us to evaluate ourselves before the assessors will come,” she added.

She called for stronger collaboration, warning that the goal was to ensure Nigeria did not slip back onto the FATF grey list when the evaluation was concluded in 2027.

“The assessors will be asking for a lot of information, which I am sure the ICPC already have and it is only pertinent for us to work together,” she said.(NAN)

NEWS

2027: INEC Steps Up Preparations, Completes Nine Activities

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By Tambaya Julius, Abuja 

The Independent National Electoral Commission (INEC) has completed nine of the 14 activities on its timetable for the 2027 general elections, while addressing complaints from political parties over alleged omissions and discrepancies in candidates’ lists.

The development emerged at a youth engagement programme in Abuja, where electoral stakeholders also called for measures to protect young voters from violence and strengthen public confidence in the electoral process.

The INEC Chairman, Prof. Joash Amupitan, represented by the National Commissioner for Information and Voter Education, Dr.

Mohammed Haruna, said the commission was reviewing its preparations and working to resolve outstanding issues ahead of the polls.

The event, titled “The Electorate: A Youth Dialogue with INEC,” was organised by Abuja Global Shapers Community (AGC) in partnership with Nigeria Youth Futures Fund, Yiaga Africa Abuja and Enough is Enough Nigeria, under the theme, “Let’s Talk About the 2027 Elections.”

Haruna said the commission had made progress on key activities, including the publication of candidates nominated by political parties for elective positions.

He acknowledged that the publication had generated complaints from some parties over alleged omissions and discrepancies, adding that INEC had invited the affected parties to submit petitions for consideration before finalising the list.

He described the voters’ register as central to the electoral process, noting that it would serve as the basis for identifying and accrediting eligible voters on election day.

Haruna also said INEC had increased the frequency of its meetings to review preparations, assess progress and take decisions necessary for the smooth conduct of the elections.

He explained that the commission comprises a chairman and 12 national commissioners responsible for policy decisions, alongside resident electoral commissioners across the 36 states and the Federal Capital Territory.

The Curator of Abuja Global Shapers Community, Solape Sonuga, urged participants to engage INEC on its readiness for the elections and the measures needed to ensure credible polls.

Sonuga described the 2027 elections as particularly important to young Nigerians, saying the engagement was designed to promote youth participation, strengthen voter education and encourage civic responsibility beyond election day.

The Programme Manager for Governance at Yiaga Africa, Yetunde Bakare, called for deliberate efforts to ensure that young Nigerians could participate safely and meaningfully in the elections.

Citing Yiaga Africa’s voting intention survey, Bakari said 84 per cent of Nigerians surveyed were likely or very likely to vote in 2027. She said 61 per cent feared electoral violence could prevent them from participating, while only 40 per cent of young respondents said they were very likely to vote.

She described the figures as a concern for electoral stakeholders, stressing that voter mobilisation alone would not be sufficient without a safe and accessible environment for participation.

Bakare commended INEC’s preparations, including online voter registration, printable Permanent Voter Cards, planned nationwide mock accreditation exercises and efforts to strengthen the governance of electoral technology and artificial intelligence.

She urged the commission to communicate promptly with voters when technical or operational challenges arise, ensure transparency in the use of electoral technologies and make adequate provisions for eligible voters in hard-to-reach communities.

She also encouraged young Nigerians to seek credible information, reject electoral violence and misinformation, and hold elected officials accountable beyond election day.

Bakari said transparency, effective communication and credible electoral processes were essential to building public trust and ensuring that the 2027 elections reflected the will of Nigerians.

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Foreign News

Senate Demands Compulsory Screening of Foreign Arrivals

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By Eze Okechukwu, Abuja

The Senate yesterday ordered mandatory health screening for every international passenger arriving Nigeria airports, seaports, land borders as Ebola resurfaces in the Democratic Republic of Congo with a scare case reported in the FCT.

The resolution followed an urgent motion by Senator Francis Fadahunsi, who warned that with Lassa fever already ravaging states, Nigeria cannot afford another outbreak.

“Protecting our entry points is far cheaper than managing Ebola,” Fadahunsi told the chamber.

Lawmakers insisted screening must be total and indiscriminate — no exemptions based on nationality or departure country because infected travellers can transit through safe-listed nations.

Senator Diket Plang raised the stakes further, demanding immediate funding for NCDC and Port Health Services, including release of withheld funds and emergency budget.

Senate President Godswill Akpabio said the Federal Government has started releasing Ebola response funds but ordered relevant committees to track every kobo.

“Ascertain whether the funds were released and judiciously utilised. Any outstanding debt must be released by the Finance Ministry without delay,” Akpabio directed.

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Economy

Reps Summon Telecom Operators over Poor Network Services

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By Ubong Ukpong, Abuja 

The House of Representatives on Wednesday, summoned telecommunication operators in the country to appear before it over the present poor network services.

The Ad Hoc Committee investigating the persistent poor quality of telecommunication services in Nigeria gave the chief executive officers (CEOs) of major telecom operators seven days to appear before it and explain the deteriorating quality of network services across the country.

The committee issued the ultimatum at a public hearing in Abuja on Wednesday, directing the CEOs of MTN Nigeria, Airtel Nigeria, Globacom (Glo), Mafab Communications Ltd.

and other telecommunications service providers to appear before it on October 28, 2026.

The resolution followed the adoption of two motions sponsored by Rep. Sunday Umeha and Rep Afam Ogene after the committee expressed displeasure over the failure of the invited telecom operators, including MTN and Mafab Communications, to honour previous invitations and appear before the lawmakers.

The committee directed the Nigerian Communications Commission (NCC) to ensure that all the affected operators comply with the invitation and appear before it at 2 p.m. on October 28 in Hearing Room 447 of the New Building of the National Assembly Complex, Abuja.

It also directed the operators to submit all relevant documents to the committee on or before the scheduled date and account for the persistent decline in service quality, which has continued to affect millions of subscribers and businesses across the country.

The lawmakers warned that any chief executive who failed to honour the invitation would face a possible summons for arrest to compel their appearance before the committee.

Speaking at the hearing, the committee’s Chairman, Rep. Olumide Osoba (APC-Ogun), said telecommunications services had become indispensable to Nigeria’s economy, extending beyond voice calls and internet access to critical commercial activities, including Point of Sale (POS) transactions.

Osoba noted that businesses, financial transactions and other essential services depended heavily on reliable telecommunications networks, making the persistent decline in service quality a matter of serious national concern.

He said the House constituted the ad hoc committee to investigate the recurring complaints by subscribers and determine the factors responsible for the poor quality of services provided by telecommunications operators.

The chairman, however, expressed concern that the invited chief executives had continued to evade direct engagement with the committee by offering various excuses or sending lower-ranking officials to represent them.

He said the practice undermined the purpose of the parliamentary investigation, stressing that the committee expected the chief executives, who were in a position to explain their companies’ operational challenges and commitments, to appear in person.

Also speaking, Rep. Ibe Osonwa expressed displeasure over what he described as the operators’ disregard for the House, despite the substantial revenue they generated from their operations in Nigeria.

Osonwa said it was unacceptable for companies benefiting from the Nigerian market to ignore invitations from the legislature, particularly when the purpose was to obtain explanations on issues directly affecting their customers and the wider economy.

He stressed that telecommunications operators had a responsibility to account for the quality of services delivered to Nigerians, adding that the House would not overlook any attempt to frustrate its investigation.

In his ruling, Osoba urged the NCC to ensure full compliance with the committee’s resolution, reiterating that the affected telecommunications operators must appear before the lawmakers on October 28 and provide the necessary explanations and documents.

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