ABCON, NDLEA to checkmate money laundering activities

Association of Bureaux De Change Operators of Nigeria (ABCON) and the Nigeria Drug Law Enforcement Agency (NDLEA) has pledged to collaborate to tackle the menace drug trafficking and money laundering.

This follows a courtesy visit by NDLEA officials to the National Secretariat of ABCON, during which areas of mutual interest in the fight against drug trafficking and money laundering were discussed. Speaking during the visit, ABCON President, Alhaji Aminu Gwadabe said that the Association will work with NDLEA to organise sensitisation workshops for BDCs on the connection between drug traficking and money laundering.

He said: “Part of our role is ensuring compliance and one of our challenges is the vulnerability of BDCs, that is why we keep on training our members on issues like customer identification as required under ‘Know Your Customer’ principle.

“So we would partner with the NDLEA to train our members on those things they need to watch out for to identify suspicious transactions.

“Though we have training programmes with the Nigeria Financial Intelligence Unit (NFIU) and Economic and Financial Crimes Commission (EFCC), we would also partner with NDLEA to organise training, we would request for resource persons from the agencies to participate in our periodic training for BDCs,” he noted.