INTERPOL Reveals Massive Scale of Money Laundering from Nigeria
INTERPOL has disclosed that hundreds of thousands of dollars are being laundered out of Nigeria every hour, with funds flowing to other African countries and around the globe. This alarming trend was revealed on Monday, July 29, highlighting the severe scale of money laundering and its global implications.
Garba Baba Umar, INTERPOL’s Vice President for Africa, made this announcement during the opening of a four-day workshop for Nigerian law enforcement agencies at the EFCC Academy in Abuja. He emphasized that combating this crisis will require coordinated efforts from security agencies both within Nigeria and internationally.
To address this issue, INTERPOL has introduced “Silver Notices Against Money Laundering,” a new initiative aimed at tackling the global scourge of money laundering and illicit financial flows. Umar stated that every hour, substantial sums of money are being laundered, benefiting criminals while honest Nigerians suffer the consequences.
He warned that successful laundering of criminal funds exacerbates crime rates, contributing to increased drug trafficking, fraud, corruption, and violence. Umar assured that the “Silver Notices” initiative is designed to make it significantly harder for illicit funds to be laundered anywhere in the world, promising tough times ahead for those engaged in money laundering activities.
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