EFCC Chair Charges Precious Stones and Metals’ Dealers on Integrity

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EFCC Chair  Charges  Precious Stones and Metals’ Dealers  on Integrity

Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr Ola Olukoyede has charged dealers in precious stones and metals in the country to uphold integrity and eschew corrupt practices in the conduct of their businesses.

 

He gave the charge in Abuja at a “Two-day National Workshop on “Sensitization of Dealers in Precious Metals and Stone,” organized by the Special Control Unit against Money Laundering, SCUML,  held between December 11 and 12, 2023.

 

Olukoyede, who was represented by Daniel Isei, Director , SCUML,  told participants that the essence of the sensitization programme was to update them on their compliance obligations and the control measures they should put in place to reduce risk in their businesses. The Chairman disclosed that multiple assessments show that precious metals and stones businesses have a high risk of exposure to money laundering activities.

 

Head of Programme, Rule of Law and Anti-corruption, RoLAC, Danladi Plang who was represented by Dala Pwanakei, emphasized the importance of observance of rule of law in all the activities of dealers in precious stones and metals. He noted that the workshop was timely and imperative for the participants to enable them to be in tune with trends in the industry “as any illegality in the conduct of their businesses will negatively affect them and the country”. Plang appreciated SCUML for its continued collaboration with RoLAC and called for  more rewarding engagements in the future.

 

The workshop featured lectures including: “An Overview of the Relevant International Standards on AML/CFT/CPF as relates to Dealers in Precious Metals and Stones", by Assistant Commander of the EFCC,  ACE I Ibinabo Mary Amachree; “An overview of the Nigerian AML/CFT/CPF Regime and the Compliance Obligations of Dealers in Precious Metals and Stones”  by ACE I Korede Abul-Aziz while ACE I Kazeem Oseni spoke  on “Implementation of EFCC Administrative Sanction Regime for Dealers in Precious Metals and Stones.”

 

The workshop drew participants from members of Jewelry Marketers Association of Nigeria, JEMA; Precious Metal Gold Processors and Exporters Association, PMGPEA, and representatives of Nigerian Union of Mines Workers,  NUMW from Niger, Nasarawa and Plateau states, who were presented with certificates. It was sponsored by the European Union, EU and International Institute for Democracy and Electoral Assistance, IDEA.

 

Source: EFCC 

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