We Don’t Fund Boko Haram – CBN Refutes Claims Its Officers Sponsor...

We Don’t Fund Boko Haram – CBN Refutes Claims Its Officers Sponsor Terrorism

By Eseme MacDonald | Associate Editor on October 22, 2014
Central Bank of Nigeria, Tweet meet,
Central Bank headquarters in Abuja, Nigeria

There have been rumours spreading like wildfire that the Central Bank of Nigeria is indirectly funding the Boko Haram insurgency in Nigeria through some persons among them.

In response to the rumours however, one of the top employees of Nigeria’s highest bank has refuted all the claims on behalf of the bank maintaining that the bank has never in any way been involved in such act.

This was disclosed in a letter written on Thursday, October 16, 2014,addressed to Socio-Economic Rights and Accountability Project, SERAP who had initially written to the bank asking it to provide information about the allegation, according to reports.

According to the letter with reference LSD/ACL/GEN/SRP/02/090, signed by O.A. Ogundana on behalf of the Director, Legal Services Department of the Bank, “We write to acknowledge the receipt of your letter dated 15th September 2014 on the subject captioned: request to provide information about alleged money laundering to Boko Haram through the Bank.

“In your letter you had requested from the CBN information about persons or office involved in alleged money laundering activities of the Boko Haram through the CBN; and information on the exact nature and duration of any such transactions.

“We wish to inform you that after investigating the allegations across various Departments at the Bank that deal with payments, the Bank could not find any information pertaining to persons involved in money laundering through the CBN to fund the activities of Boko Haram.

“The CBN as Banker to the Federal Government only maintains accounts for and on behalf of the Government, its Ministries, Departments and Agencies; Deposit Money banks and other financial institutions in Nigeria and can only make payments on their behalf based on authorized mandates.

“Consequently, the CBN does not maintain or operate any accounts for individuals, officers or offices within the Bank. In conclusion, your organization may wish to note that the Bank maintains a robust Anti-Money Laundering/Combating the Financing of Terrorism framework to prevent the use of its platform for financial crimes. Please, accept the assurances of the Governor, Central Bank of Nigeria.”


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