FBI burst: FG to repatriate funds stolen by fraudsters, says NFIU boss

The Federal Government has begun the process of repatriating
funds allegedly stolen by Nigerian fraudsters from individuals and
corporate organisations in the United States of America and other
parts of Europe.

The Director-General of the Nigerian Financial Intelligence Unit
(NFIU), Tukur Modibbo dropped the hint in Abuja on Tuesday.

Modibbo said the exercise has begun with the repatriation of the
monies stolen and transferred into the country by 80 Nigerian
fraudsters recently busted by the American Federal Bureau of
Investigation (FBI).

The NFIU boss, who spoke at a workshop on Sub-Regional
Conference on Illicit Financial Flow and Assets Recovery, further
hinted that some Non-Governmental Organisations (NGOs) were being
used for illicit financial transactions.

The two-day workshop was organised by the Human and
Environmental Development Agenda (HEDA), in collaboration with
other stakeholders.

According to him, findings by the NFIU had revealed that some of
the illicit funds have been going into terrorism financing and
other organised economic crimes.

“We are reversing the transactions of the monies of those
Nigerians indicted for cybercrimes in the United States”, Modibbo
said, even as he called on western countries to also return monies
belonging to Nigeria but which were illegally taken to their
countries.

Continuing, he said, “The same thing is happening in Malaysia.
We are reversing such transactions. We need more collaboration to
ensure that there is a clean system in our region and the
world.

“Nigerians abroad have to be discipline because we know that
most of them are hard working. You can’t run to another country and
start attacking your brothers.

“So, we are working with the NIA, the Police, Immigration and
other security agencies to ensure that we end such
transactions.

These fraudsters should know that the world is no longer what it
used to be on illicit financial transactions.

Stating the international dimensions of illicit financial flows
and their links to terrorism, Modibbo linked the Boko Haram
insurgency and killings in many parts of the country to foreign
terrorism influences.

Said he, “What is happening in the North East is not a Nigerian
problem alone but an international issue. The killings happening
even in Zamfara are also not only a Nigerian issue and they kept
happening because of the illicit financial inflow people used to
fund terrorism and banditry.

“So, what is happening in the North East and the Northwestern
state of Zamfara is an international crime. As a result of illicit
financial inflow, foreigners come to the country and kill
Nigerians.

“It’s not that Nigerians are killing one another; foreigners are
involved and they get funding from some of these Civil Society
Organisations (CSOs)”.

“We are going to look at foreign companies doing criminal
business here in Nigeria. We are also looking at Chinese, Indian
and other companies doing illegal mining in the country.

“Some of these companies have been taking advantage of our
environment but we will bring them to justice just the same way we
are trying to bring to justice those Nigerians doing criminal
things abroad”.

Modibbo said that NFIU will need a list of legitimate civil
society organisations operating in the country in order to embark
on crackdown on identified illegitimate and close down their
accounts.

Stating that there are about 52, 000 NGOs operating in the
country, Modibbo said the NFIU was already collaborating with the
Corporate Affairs Commission (CAC) to identify culprit NGOs and
other rogue organisations with the view to deregistering them.

Giving a keynote address at the event, the Special Adviser to
the President on Economic Matters in the office of the Vice
President, Dr Adeyemi Dipeolu, said illicit financial flow in
Africa has been on the increase.

Dipeolu urged political will on the part of the leadership to
address the problem, adding that there must be transparency in
curbing the menace.

He said, “With transparency, illicit financial inflow will stop.
People must insist on transparent management of resources and legal
financial flow,” he said.

The event was attended by delegates from other English speaking
West African countries of Ghana, Gambia Senegal, Liberia and Sierra
Leone.

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