Reps move to end terrorism financing, money laundering

The House of Representatives Committee on Financial Crimes has pledged to put an end to the challenges of terrorism financing and money laundering currently ravaging the country.

Chairman of the committee, Ginger Obinna, stated this during the inaugural meeting of the committee in Abuja yesterday.

He also vowed to bring enablers of financial crimes and criminalities in the country to justice.

Obinna, who said it would not be business as usual, added that the committee would roll out strategies and policies necessary to safeguard the nation’s financial system and uphold the rule of law.

He affirmed lawmakers’ confidence and capabilities to tackle the innate challenges of financial crimes in the country.

Obinna, who promised to carry everyone along and run an open-door policy, said: “Your dedication to our shared cause, your tireless efforts in the pursuit of justice, and your resilience in the face of complex challenges, which includes financial crimes and criminalities, illicit financial flow, money laundry, terrorism financing, advance fee fraud (419) cybercrimes, are some of the menace bedevilling our nation today. More so, all hands must be on deck to fight this monster called corruption.

“Your collective wisdom, collaboration, and diverse perspectives have been invaluable in shaping the strategies and policies necessary to safeguard our financial system and uphold the rule of law.

“It is your unwavering commitment to transparency, fairness, and accountability that has set the highest standards for our committee’s work.

“As we move forward in our mission, I have full confidence that our combined efforts will continue to make a profound impact on our society. Together, we will ensure that those who engage in financial crimes and criminalities are held accountable and brought to justice.

“There shall be a committee on financial crimes consisting of not more than 40 members constituted at the commencement of the life of the House

”The committee’s jurisdiction shall cover an oversight of the Economy and Financial Crimes Commission, EFCC,. NF1U

“Monitoring the agencies involved in the detection of financial crimes, money laundering and advance fee fraud. Oversight of all organizations, agencies and institutions established by law on financial crimes and also annual budget estimates.

“I look forward to the future with optimism, knowing that we have the privilege of serving alongside such an exceptional group of individuals. Our dedication to this noble cause is a source of inspiration to us all, and I am proud to be a part of this remarkable team.

“While acknowledging the enormous responsibilities of the committee, we are confident and affirm your capabilities to tackle the innate challenges of financial crimes in our country.

”Let us carry our mission forward with renewed energy and determination and to make positive changes to the nation’s economy, in tandem with the set agenda of this administration to fight corruption. Corruption is not going to be business as usual.”