DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 257)

THE OFFENCE OF OWNING OR MANAGING A HOUSE USED FOR INTERNET SCAM.

Any person that merely allows or knowingly permits a property he occupies or manages to be used for internet scam or any form of advanced fee fraud is guilty of an offence. It is punishable with an imprisonment for not less than 5 years and not more than 15 years without an option of fine.

My authorities are sections 3 and 22 of the Advanced Fee Fraud and other Fraud Related Offences Act, 2006.

 

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DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 212)
“Transactions Of Equivalent Of $10,000 or Above Are Reported To EFCC & CBN”

Every foreign transfer of equivalent of Ten Thousand US Dollars ($10,000.00) or more or securities MUST be reported to Economic and Financial Crimes Commission (EFCC), Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC) within 7 days of such transaction. Such report must reveal the details of transfer, amount, names and addresses of the parties involved.

My authorities are sections 2(1),(2), 25 and 26 of Money Laundering (Prohibition) Act.

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NOTE: Sharing or modifying or publishing this publication without giving credit to Onyekachi Umah, Esq. and “LearnNigerianLaws.com” is a criminal breach of copyright and will be prosecuted. Please share this publication till it gets to those that need it most. Save a Nigerian today!

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DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 149)
“ EFCC Cannot Recover Debts.”

Economic and Financial Crimes Commission (EFCC) has powers to recover stolen monies and not loans and debts. Just like police and other security agencies, EFCC is not for debt recovery and cannot interfere with civil transactions and businesses unless there is evidence of fraud and crime generally. The amount of debt, it’s duration and even refusal to repay by a debtor does not make debt a crime.

My authority is section 6 of Economic and Financial Crimes Commission Act, 2004.

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DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 123)
“A Lawyer’s Bank Account is Exempted from EFCC, SCUML, NFIU and Police Registration/Clearance.”

Most ignorant banks will request that a lawyer obtains a proof of registration with Special Control Unit Against Money Laundering (SCUML) before a law firm’s bank account can be created; this is to enable EFCC and other agencies monitor such accounts easily.

This is wrong and illegal. Special Control Unit Against Money Laundering(SCUML), the National Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC) have no right to demand registration and seek regulation of lawyers, their law practice and management of clients accounts.

Don’t let any bank or security agency muscle you into illegality. Enjoy your lawyers privileges!

See sections of 192 and 195 of Evidence Act, sections 5 and 25 of Money Laundering (Prohibition) Act, Rule 19(1) of the Rules of Professional Conduct for Legal Practitioners 2007 and the Federal High Court decision on Registered Trustees of Nigerian Bar Association V. AGF & CBN (Suit No: FHC/BS/173/2014) And the Court of Appeal decision in the case of CBN V. NBA & AGF (Appeal No: CA/A/202/2015)

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