Chuks Udo Okonta
The National Insurance Commission (NAICOM) today Tuesday,
flagged-off sensitisation on money laundering to prepare insurance operators
for September visit of the Financial Action Taskforce.
Assistant Director Inspectorate NAICOM, Sam Onyeka, told Inspen that the sensitisation team were are in the companies to help them prepare and ensure that their operations
align with the required standard, adding that those who are not compliant, would
be assisted in their area of deficiency.
He said: “The exercise is a special arrangement it is not an
inspection, it is not designed to punish people by sanction, but to sensitise operators
to be prepared for Financial Action Taskforce onsite visitation in September.
The Financial Action Taskforce will be visiting Nigeria by September to check
the level of compliance on Money Laundering Prohibition
(MLP) issues.
“We are in the companies to help them to prepare
and ensure that everything is in the way it should be. Those who are not
compliant, we would find out areas of their weaknesses and help them to put
things in order. So that when the Financial Action Taskforce comes, they
would see that they are doing what they should do.”
He noted that all the
companies would be sensitised for the commission do not know who the taskforce
would decide to interview when they come.
He said NAICOM would engage the operators for next two weeks
starting from today. He stressed that effort would be made to ensure that all
the operators are on the same page in terms of compliance.
Executive Director, Business Development, Mutual Benefits Assurance plc, Gbenga
Ogunko, commended NAICOM for its determination to uplift the standard of the
industry. He said the effort by NAICOM to forestall money laundering in the
industry is a step in good direction.
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