Cross River State Vows to Prosecute Officials for Money Laundering, Terrorism Financing

Cross River State Government Issues Stern Warning on Financial Crimes

The Cross River State Government has issued a firm warning that it will not hesitate to prosecute any official found culpable of money laundering, terrorism financing, and other forms of financial crime. This declaration was made by the state governor, Senator Bassey Otu, during the opening of a two-day Strategic Level Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Workshop for senior government officials in Calabar on Thursday.

Governor Otu Emphasizes Zero Tolerance for Fraud

Governor Otu, represented by his deputy, Rt. Hon. Peter Odey, described the training as timely and strategic, stressing that it would significantly strengthen financial prudence and governance in Cross River State. He expressed satisfaction with the workshop's program, noting that it would enhance financial management and public fund stewardship.

"This administration has zero tolerance for anything that has to do with fraud or money laundering. Those who have indulged in such acts already know the consequences, and we will not hesitate to continue enforcing discipline," Otu stated emphatically. He warned that any official involved in such crimes would face firm consequences under relevant laws.

Workshop Aims to Strengthen Financial Governance

The governor charged participants to fully internalize the training and cascade the knowledge to colleagues not in attendance, particularly at the local government level. He emphasized that the workshop should serve as a safeguard against actions that could expose officials to anti-corruption agencies. Otu assured that such capacity-building programs would be sustained and possibly held more frequently to reinforce ethical financial practices continuously.

Earlier, in his welcome address, the Vice Chairman and Chief Executive Officer of the Planning Commission, Dr Bong Duke, described the workshop as a strategic intervention aimed at:

Protecting the state's economy
Strengthening governance structures
Safeguarding public resources

Duke noted that money laundering and terrorism financing pose real threats to economic stability and sustainable development. He added that public officials are custodians of trust whose actions directly impact the state's future. The training was designed to move participants beyond awareness to practical competence in identifying risks, strengthening controls, and enforcing compliance with national and international standards.

Commendations and Calls for Sustained Efforts

The Lead Facilitator and former Deputy Governor of the Central Bank of Nigeria, Dr Ade Shonubi, commended the Cross River State Government for its foresight and commitment to good governance. Shonubi said the decision to prioritize a strategic-level engagement for senior officials demonstrated strong leadership and dedication to transparency and accountability.

He noted that Nigeria's recent removal from the global grey list marked progress but cautioned that sustained effort was required at both federal and sub-national levels. Shonubi stressed that effective AML/CFT implementation at the state level is critical to:

Protecting public finances
Strengthening institutions
Boosting investor confidence

Building a Transparent Financial System

Also speaking, the Accountant General of Cross River State, Dr (Mrs) Glory Effiong, described the workshop as a crucial step towards sustaining the state's growing reputation for financial credibility and investor friendliness. Effiong said the administration of Governor Otu remains committed to building a transparent, accountable, and corruption-resistant financial system.

According to her, participants were carefully selected to ensure continuity and long-term impact. She urged them to go beyond theory and apply the lessons learned to daily operations, expressing confidence that the training would further position Cross River as a leading state in financial governance.

Participants and Workshop Objectives

Participants at the workshop included directors of finance and procurement, principal officers in ministries, departments, and agencies (MDAs), as well as selected audit, legal, and treasury staff. The training, which continues through Friday, aims to equip them with practical skills to: