The European Union (EU) and the Economic and Financial Crimes Commission (EFCC) have sensitized Civil Society Organisations (CSOs) on Anti-Money Laundering Regulation frameworks and compliance in Adamawa State.
The training at the instance of the European Union Agents for Citizen-Driven Transformation (EU-ACT) which took place on Monday, at American University of Nigeria (AUN), brainstormed on the issue of poor compliance of CSOs to existing civil society regulations in Borno, Lagos, Enugu and other states.
Mr Ali Abdullahi, representative of the department of Control Unit Against Money Laundering, (CUML), said the EFCC is committed to the monitoring and inspection of designated financial institutions in the state.
Mr Chambers Umezulike, Program Officer, (EU-ACT) in his remark, said “the training was reinforced by the outcome of the survey conducted where out of the 119 CSO responses, less than a third of the CSOs were compliant with the CAMA law, less than 10% of the CSOs were fully tax compliant and only 14% of the CSOs were SCUML compliant in nine states including Adamawa.
”Ten focal states are to improve CSOs’ awareness of the important regulations (CAMA, Taxation, Anti-Terrorism and Money Laundering, and Pension) and how they affect their operation and help them on how to become effective in their compliance obligation to these regulations; as well as improve their compliance.
“The training enabled EU-ACT CSO partners to gain in depth knowledge of the requirement of the laws/regulations as well as receive continuous guidance on how to effectively and efficiently meet these requirements.”
Umezulike added that the program, implemented by British Council, provided technical inputs as well as addressed any compliance issues in participant organisations.