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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Cameroon, Korea, Two Others Engage In Money Laundering- Says CBN

CBN's Headquarters, Abuja

By Favour & Akinola Ajibade

The Central Bank of Nigeria (CBN) says  Cameroon, Croatia, Korea and Vietnam are some of the countries used for money laundering activities globally. 
The apex regulatory banking institution further said that individuals and organisations from those countries are used to launder money, urging Deposit Money Banks (DMBs) and other Financial Institutions (FIs) in Nigeria to monitor financial  transactions with individuals and agencies in the above listed nations. 
CBN, in a circular with reference number: FPR/AML/PUB/BOF/001/029, issued and signed by its Director, Financial Policy and Regulation Department,  Chibuzo A. Efobi, stated that 
Korea, Iran, and Myanmar remain on the list of high-risk jurisdictions, adding that Russia remains suspended from the Financial Action Task Force (FATF).
The circular reads: “The attention of banks and other Financial Institutions is drawn to the outcomes of Financial Action Task Force (FATF) Plenary conducted from June 21-23, 2023, and subsequent addition of Cameroon, Croatia, and Vietnam to the list of jurisdictions under ‘Increased Monitoring’.
Adding that: " Democratic People’s Republic of Korea, Iran, and Myanmar are on the list of high-risk jurisdictions, subject to ‘Call for Action.’ 
Consequently, enhanced due diligence should be applied and in severe cases, counter-measures may need to be implemented to safeguard the international financial system.”
“Additionally, we would like to emphasise that the suspension of the Russian Federation from the FATF remains in effect.
CBN, in the circular, directed Financial Institutions ( FIs) to be vigilant enough in order to deal with the emerging risks resulting from measures taken to protect the international financial system.
“In light of these developments, FIs are directed to note all additions to jurisdictions under ‘Increased Monitoring,’ as well as, high-risk jurisdictions subject to a ‘Call-for-Action’ and take necessary measures to mitigate these risks effectively.”CBN added.

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