The Director-General of the Securities and Exchange Commission (SEC), Mary Uduk said the capital market would not enable money laundering and terrorism financing.
Mary Uduk said this in Lagos during the Anti Money laundering (goAML) training for compliance officers of capital market operators (CMOs).
Uduk said that goAML software application is a fully integrated software solution developed specifically for use by Financial Intelligence Units (FIU’s) and is one of United Nations Office on Drugs and Crime (UNODC) strategic responses to financial crime, including money-laundering and terrorist financing.
Also added that the commission would not relent in its drive to fight the menace of money laundering and financing terrorism through the vision to develop and regulate a world-class capital market.
However, Uduk said that financial institutions should be able to shoulder the responsibility in enforcing compliance with all rules and regulations governing the financial system.
(NAN)