Nigeria Anti-Narcotics Agency, NDLEA Uncovers Illicit Drug Factory in Enugu

Anti-narcotics operatives of the Enugu State Command of the National Drug Law Enforcement Agency (NDLEA) on March 17, uncovered an illicit drug factory where one of the world’s most deadly substances, methamphetamine, was being produced.

Nigeria Drug Agency Uncovers Methamphetamine Producing Laboratory in Delta State, Arrest Mexican, Nigerian Masterminds

The National Drug Law Enforcement Agency (NDLEA) on Saturday said it discovered a super laboratory for the illicit production of methamphetamine located at Asaba, Delta.

Drug Trafficking: 158 Nigerians on Death Row in China, Malaysia

A total 158 Nigerians are waiting to be executed over drugs related offences in China, Malaysia, Singapore and Indonesia, the Senate said on Tuesday.

Nigeria's Anti-Narcotics Agency Uncovers Drug Smuggling Syndicate Embedded In Airport

Nigeria's National Drug Law Enforcement Agency (NDLEA) on Friday said it has uncovered a suspected drug trafficking cartel

Two ​Nigerian Women Caught on China-bound Flight Smuggling Cocaine in Their Private Parts — NDLEA

The National Drug Law Enforcement Agency said it ha​s​ arrested two women attempting to smuggle cocaine aboard a Qatar Airways flight to China.

NDLEA Arrests Two Drug Traffickers on Lagos-US, Lagos-London Routes

The National Drug Law Enforcement Agency has arrested a US-bound passenger who ingested over one kilogramme of heroin at the Murtala Mohammed International Airport, in Lagos.

Two Drug Peddlers Arrested For Cocaine Concealed In Perfumes, Capacitors Worth More Than N100 Million

Two drug peddlers who allegedly concealed drugs suspected to be cocaine worth more than 100 million naira inside capacitors and perfumes, have been arrested by officials of National Drug Law Enforcement Agency, NDLEA.

Fallout of BNP Paribas' Guilty Plea and Fine, United States Justice Dept May Probe Nigerian Banks over Terror Funding

THE United States (U.S.) Justice Department has put some Nigerian banks under the searchlight in the wake of growing terrorism in the country.

Specifically, the banks are being investigated to establish their links, if any, with funding of the various terror cells across the continent, particularly Boko Haram.

The development was sequel to BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions, which has now triggered fresh enthusiasm on the U.S. Justice Department to also extend its investigations to Africa, especially among big banks on the continent with strong international links.

  Two other major French banks- Credit Agricole and Societe Generale, Germany’s Deutsche Bank AG, and Citigroup Inc’s Banamex unit in Mexico are among those being investigated for possible money laundering or sanctions violations, according to reliable industry sources.

  The Justice Department and other U.S. authorities, including the Manhattan District Attorney, are probing Credit Agricole and Societe Generale for potentially violating U.S. economic sanctions imposed against Iran, Cuba and Sudan, one of the sources said.

  Specifically, in the case of Nigeria, there had been widespread suspicion that a few banks in the country may have compromised in helping to move funds for members of the Boko Haram sect.

  There were fears recently that Nigeria may be blacklisted by international anti-money laundering watchdogs based in the U.S., over its inability to track the source of funds of the Boko Haram sect and curb terrorism financing in general.

  Signals from Financial Action Task Force (FATF), the global standard setter for measures to combat money laundering, terrorist and proliferation financing, indicated that despite the earlier warnings to Nigeria on its non-compliance level, the country is yet to take any concrete step to stem the rising spate of financial crimes including terrorism financing, money laundering and corruption.

  In its recent report, dated February 11, 2014, the FATF listed Nigeria among the countries that have not made significant progress in addressing the lacunas in their Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) regimes. The agency advised the international financial community on the potential risks in the country.

  Recent events, especially the activities of Boko Haram and startling revelations from various probes by the National Assembly, are putting Nigeria under global focus and scrutiny.

  It will be recalled that on June 23, 2006, FATF decided to remove Nigeria from its list of Non-Cooperative Countries and Territories (NCCTs).   Since July 2001, Nigeria has been on this shame list. The cost to the economy is incalculable: inflow/outflow of transactions to Nigeria has around it a cautionary flag to the rest of the world and numerous Nigerians operating outside the country have had their financial dealings cancelled/ monitored.

  Similarly, Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), in its 2011 yearly report, clearly showed that the sources of money laundering, corruption, tax fraud, narcotics, trafficking and capital market related crimes were identified as the major challenges facing Nigeria.

  The data from GIABA, an institution of the Economic Community of West African States (ECOWAS) responsible for facilitating the adoption and implementation of AML/CFT in West Africa, stated that the National Drug Law Enforcement Agency (NDLEA) seized 195, 283, 917 kilogrammes of various types of illicit drugs, mostly cannabis valued at over N140 million. The country also generated 8,725, 213 Currency Transaction Reports (CTRs), 2,031 Suspicious Transaction Reports (STRs) and 83 confirmed cases of money laundering in the reviewed period.

Source, full article:
Guardian Newspaper