Boko Haram Funding: Why Getting Bail For Affected Bureau De Change Operators Is Impossible For Now Association President
The know your customer or know your client guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship.
by Saharareporters, New York
Apr 22, 2021
President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe has said operators arrested in connection with financing Boko Haram terrorists, were implicated by customers due to non-compliance with Know Your Customer guidelines.
The know your customer or know your client guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship.
About 400 persons have been arrested for allegedly funding Boko Haram terrorists.
The series of arrests were made in Kano, Borno, Abuja, Lagos, Sokoto, Adamawa, Kaduna and Zamfara, Daily Trust reports.
In November 2020, there were reports of how six Nigerians were facing prison terms of 10 years to life after a federal appeals court in the United Arab Emirates upheld their convictions for funding the terrorist group, Boko Haram.
The accused were initially tried and convicted in 2019 following their arrest in 2017.
The court in Abu Dhabi therefore sentenced Surajo Abubakar Muhammad and Saleh Yusuf Adamu to life in prison. Ibrahim Ali Alhassan, AbdurRahman Ado Musa, Bashir Ali Yusuf and Muhammad Ibrahim Isa were each given a ten-year sentence.
Nigeria’s Minister of Justice and Attorney General of the Federation, Abubakar Malami (SAN) is unhappy and angry about the recent arrest of some persons allegedly funding Boko Haram terrorists, including operators of some Bureax De Change said to have been facilitating the transfer of money to the terrorists
A top source in government told SaharaReporters how Malami was opposed to the raid and subsequently at loggerheads with the task force for carrying it out.
It had earlier been reported how about 400 persons were arrested for allegedly funding Boko Haram terrorists.
The series of arrests were made in Kano, Borno, Abuja, Lagos, Sokoto, Adamawa, Kaduna and Zamfara, according to a Daily Trust report.
Report: Nigeria Arrests 400 In Massive Raid For Funding Boko Haram
Those arrested are being kept in military and Department of State Services facilities in Abuja and other places.
by SaharaReporters, New York
Apr 19, 2021
About 400 persons have been arrested for allegedly funding Boko Haram terrorists.
The series of arrests were made in Kano, Borno, Abuja, Lagos, Sokoto, Adamawa, Kaduna and Zamfara, Daily Trust reports.
In November 2020, there were reports of how six Nigerians were facing prison terms of 10 years to life after a federal appeals court in the United Arab Emirates upheld their convictions for funding the terrorist group, Boko Haram.
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For over a decade, there has not been a clear information on how Boko insurgents are being funded.
According to Daily Trust, the businessmen were arrested in an operation being coordinated by the Defence Intelligence Agency (DIA), and in collaboration with the Department of State Services (DSS), Nigerian Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN).
The operation was said to have been approved by President Muhammadu Buhari in 2020.
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The newspaper reported that an initial list of 957 suspects comprising bureau de change (BDC) operators, gold miners and sellers, and other businessmen is being acted upon.