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Sub Committee

1. TECHNICAL ASSISTANCE, GLOBAL STANDARDS AND COOPERATION

  • Support the GIABA National Correspondent in coordinating Mutual Evaluation Exercise of Nigeria.
  • Support the GIABA National Correspondent in the implementation of post Mutual Evaluation Exercise Action Plan.
  • Proactively identify vulnerabilities, emerging risks, trends and typologies, and develop responses for approval and implementation at national level
  • Collaborate with development partners to strengthen competent authorities and encourage alignment of donor programs with the National AML/CFT Strategy and Action Plan.
  • Provide quality assurance for AML/CFT Risk Assessments by reviewing draft reports and providing input to the NRA Secretariat.
  • Oversee the design, review and implementation of the National AML/CFT Strategy and ensure alignment with the National Security Strategy, National Anti-Corruption Strategy and other relevant frameworks and policies.
  • Review GIABA/FATF MERs and FURs and provide comments on a timely basis to the IMC Secretariat.

  • Develop Standard Operating Procedure for parallel investigations of Money Laundering, Terrorism Financing and associated predicate offences.
  • Ensure prioritization of investigations and prosecutions by LEAs in line with the National AML/CFT Strategy and Action Plan.
  • Liaise with Advocacy & Capacity building sub-committee to sensitize LEAs and other Competent Authorities on effective use of financial intelligence in their investigations.
  • Develop Standard Operating Procedures for institutionalization and use of special investigative techniques for Money Laundering, Associated predicate offences and Terrorism Financing investigations.
  • Oversee the establishment and operation of national AML/CFT public-private-partnerships and joint investigation teams to increase effectiveness of the National AML/CFT framework.
  • Support effective implementation of UNSCRs 1373 and 1267 (and any related resolutions and regulations) through the National Sanctions Committee.
  • Oversee the establishment and management of a central database to be domiciled at the NFIU, to track statistics on AML/CFT.

  • Periodically review all AML/CFT related legislations/regulations and propose necessary areas for amendments in line with FATF Recommendations, NRA and Mutual Evaluation Reports.
  • Liaise with members of the relevant NASS committees on AML/CFT for the passage of pending AML/CFT relevant legislations including the proceeds of Crimes Act, Whistle Blower Act and the Counter-Proliferation Act.
  • Periodically review the charter of the IMC to meet evolving dynamics of the AML/CFT/CFP R
  • Carry out special projects of the IMC.Develop guidance documents on prioritization of AML/CFT cases and effective sentencing for use by the judiciary.
  • Liaise with the Advocacy and Capacity building sub-committee for training of the judiciary on requirement of AML/CFT standards.

  • Sensitize relevant agencies, the private sector and NGOs on their roles, responsibilities and mandates within the AML/CFT framework
  • Ensure relevant committee members of the National Assembly are briefed regularly and updated on new developments and their roles in the country’s AML/CFT regime.
  • Collaborate with the Legal/Judicial subcommittee and civil society organizations in advocating for the amendments and passage of relevant AML/CFT Committees.
  • Liaise with the Technical Assistance subcommittee on training needs of competent authorities and available resources to address the needs.
  • Carry out special projects of the IMC.
  • Prepare quarterly and annual reports on the status and implementation of the country’s AML/CFT framework for key stakeholders including the line Minister’s, FATF, GIABA etc..
    • NOTE: Going forward, emphasis will be made on implementation and institutionalization of technical expertise as opposed to independent trainings which have been ongoing but knowledge has remained with the individuals with little or no impact on the organization.

  • Develop the annual budget for the IMC.
  • Develop and oversee a consistent source of funding for the activities of the IMC.
  • Ensure funds donated for specific projects are applied accordingly.
  • Prioritize and account for the funds of the IMC.

  • Convening the meetings of the IMC.
  • Provision of Technical Advice on AML/CFT/CPF to the general meetings and that of the sub-committees.
  • Preparation of minutes of meetings
  • Presentation of quarterly brief on matters arising in the AML/CFT regime of the country.
  • Provide administrative support for all sub-committees of the IMC.
  • Receipt of all reports and correspondence requiring the attention of the Committee.
  • Preparation and presentation of annual report on the activities of the IMC at the Annual review meeting
  • Maintaining the IMC website.
  • Drafting annual work plan for the committee.