A showdown is looming between the
Central Bank of Nigeria and Christian and Islamic leaders across the
country over the freezing of their accounts on the orders of the apex
bank.
CBN Governor, Lamido Sanusi, had two
weeks ago directed banks to commence the updating of the accounts of
designated non-financial businesses and professions with evidence of
registration.
The CBN circular, which was obtained by
Saturday PUNCH, stated that the DNFBPs include religious and charitable
organisations, dealers in jewellery, precious metals and stones, cars
and luxury goods, audit firms, tax consultants, clearing and settlement
companies, lawyers, notaries, other independent legal practitioners,
chartered accountants and trust company service providers.
Others include hotels, casinos,
supermarkets, real estate agents, non-governmental organisations,
Federal Ministry of Trade and Investment or appropriate regulatory
authorities.
It said, “In consideration of some
challenges encountered by the Special Control Unit against Money
Laundering as a result of the number of persons seeking to enjoy late
compliance, the CBN has decided to further extend the second deadline of
April 30, 2013 by eight months to December 31, 2013.”
The bank warned DNFBPs that were yet to register to take advantage of the extension or risk losing their accounts.
Under the new regime, the designated institutions are required to fill forms listing their shareholders and directors.
Religious organisations are registered
under Act C of the Companies and Allied Matters Act which is for
non-governmental organisations while the new regime has placed them
under Act F, which applies to businesses.
They are also required to get their
forms endorsed by the Economic and Financial Crimes Commission, as part
of CBN’s ongoing tracking of sources of funds for Boko Haram and other
terrorist groups in the country.
Sources said the Christian Association
of Nigeria had directed churches not to fill any form in any bank. It
has also asked affected members to forward evidences of the freezing of
their accounts to their respective state secretariats for onward
transmission to the national secretariat.
CAN’s Public Relations Officer for the 19 Northern states and Abuja, Mr. Sunny Oibe, confirmed the development to Saturday PUNCH on the telephone on Friday.
He said, “We are preparing our grounds
in CAN for that and we will respond in a big way. What has the church
got to do with the issue of Boko Haram? Churches are not profit-making
organisations and so how can somebody now begin to equate churches with
business that doesn’t concern them?
“They know those who are sponsors and financiers of Boko Haram and the people through whom this money are paid.
“We are therefore pleading with President Goodluck Jonathan to caution the CBN Governor.”
When contacted, the media aide to the
President of CAN, Mr. Kenny Ashaka, said, “For now, we don’t want to
make any comment on the issue. We will act as at when due.”
The General Overseer, Evangelical
Ministries, Lagos, Bishop Steven Ogedengbe, described the CBN order as a
“distraction that will not last.”
Ogedengbe said his church’s account was not affected but called on affected religious organisations to resist the move.
The Secretary-General, Nigerian Supreme
Council for Islamic Affairs, Prof. Ishaq Oloyede, said the organisation
was worried about whether bank officials and security agents involved in
the matter would be transparent, sincere and avoid sentiments.
In a telephone interview with Saturday
PUNCH on Friday, Oloyede said, “I do not have any objection to it. I
have seen the form. It is not limited to churches and mosques. It has a
lot of people on the list.
“From what I see, it is for
transparency. As far as Islam is concerned, we do not do anything under
the table so why are we afraid? The only fear I have is those who are
involved and claim to be doing for the government or security agencies
should be transparent in the way they do it.
“Except for fear of misuse by government
agencies, I have no reservation at all. The only problem I have is
about whether government or their agencies and security agencies will be
sincere and unsentimental in their issues..”
But the Director, Corporate
Communications, CBN, Mr. Ugo Okoroafor, told one of our correspondents
on Friday that the directive was not targeted at religious organisations
but was meant for all designated non-financial businesses and
professions.
He said, “The directive is expected to
enable the regulator check money laundering and other malpractices in
the sector. We want to know who is moving what at any point in time. If
you don’t fall under the financial institutions category, then you must
fall under another category.
“Churches are under what we call DNFBPs.
All we told them was that they should update their account information
with their banks. They are not the only ones in the category. Besides,
the directive has been extended by six months so we have not frozen any
account. This is the second time we are extending it to allow for proper
registration.”
In a statement issued on Friday night, CBN said it had not directed any bank to freeze the accounts of churches and mosques.
It reads, “The attention of the Central
Bank of Nigeria has been drawn to some reports being circulated in the
media to the effect that the CBN had ordered the freezing of the
accounts of some religious organisations, citing alleged suspicion of
links with terrorist groups.
We wish to state as follows:
1. That the CBN has not ordered the
closure or freezing of the bank account of any religious body or any
institution whatsoever as alleged in the publications and posts. There
is, therefore, no iota of truth in these allegations.”
The statement by Okoroafor said the
affected bodies are expected to present certificate of registration
showing registration number with the Special Control Unit Against money
Laundering.
He also said the deadline was extended from February 2013 to June and finally to December 2013.
When contacted, EFCC Acting Head, Media
and Publicity, Wilson Uwujaren, said, “It is not a new thing; it is part
of anti-money laundering revolution in the banking system. Banks are
required to report any transaction that is above $1000 by Designated
Non-Financial Institutions to the Special Control Unit against Money
Laundering.
“It is not a special directive to
churches; it is for all Designated Non-Financial Institutions which
include churches, casinos, supermarkets, accounting firms and dealers in
jewelleries and precious stones, among others.”
On April 23, the SCUML arrested
officials of a real estate firm and two hotels in Abuja for
non-compliance with extant regulations mandating DNFIs to register with
the Unit in line with the anti-money laundering laws.
The special operation was conducted in conjunction with the EFCC.
The Nigeria Bar Association is currently challenging the regulation in court.
Culled From punch Newspaper
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