NCC, NFIU Partner To Check Financial Fraud In Telecoms
The Nigerian Communications Commission is set to collaborate with the Nigerian Financial Intelligence Unit to fight financial fraud perpetrated through SIM cards.
This was made known when the leadership of NFIU paid a courtesy visit to the NCC office in Abuja, a statement said on Thursday.
According to the statement, the Director and Chief Executive Officer, NFIU, Modibbo Tukur, said the agency was ready to commence the process that would lead to the signing of Memorandum of Understanding with the NCC.
He described NFIU as the Nigerian arm of the global financial intelligence unit, which ensure that Nigeria complied with international standards on combating money laundering, and financing of terrorism and weapons of mass destruction.
Tukur noted that financial fraud analysis was incomplete without telephone data as a number of financial crimes were committed with non-registered SIM cards.
“Though we have special detection tools for transactions involving unregistered SIM cards, we seek special collaboration with NCC because of the great works NCC is doing in this regard as a competent authority and key ally in the detection of financial infractions,” Tukur was quoted as saying.
He added that the need for greater collaboration was underscored by the plan to introduce a common currency in West Africa and other emergent financial phenomena like cryptocurrency.
In his response, the Executive Vice -Chairman and Chief Executive Officer, NCC, Prof Umar Danbatta, promptly announced the composition of NCC membership of the technical committee that would work with NFIU to achieve a better working relationship.
“Each time an additional service debuts to ride on existing infrastructure, it tends to degrade the quality of service. Therefore, we need infrastructure upgrade to handle the issue of common currency and other issues of digital transformation. ”
Danbatta informed the NFIU chief executive that a 10gigabyte per second point of access capacity in each of the 774 local government areas would be a great start to guarantee a good Internet speed.
He said the NCC was committed to doing everything necessary to uplift Nigeria and enlist the country as a central player in the ongoing digital transformation of the global economy.