About 15 firms dealing in mobile phones and accessories, computer software and hardware, and operating in the country’s most popular computer market, Lagos Computer Village were named in leaked suspicious activity reports (SAR) filed with the United States Financial Crimes Enforcement Network (FinCEN). The transactions, which totals $27, 308, 531, amounts to N1,161, 382, 241 based on the official exchange rate of N379 to a dollar as of September 30, 2020.
These companies include Point Technologies Limited, Zenco Properties Ltd, Emcel Link Nigeria Limited, Zenco Communications Limited, Zenco Logistics Limited, Domtonia International Company Limited, Prolink Communications Ltd, Real Point Global Resources Limited, and Equitoni International Limited.Others are Preferred Network Nig, Cosmanuel Communication, Global Digital Links, Liberty Devices, Spectrum Innovation Technologies Limited, and Lovesac Creation Limited.
These companies are part of a network of business concerns that had financial dealings with a China-based firm, Hdsee Technology Ltd, which account is suspected “as a “pass-through” vehicle to transfer funds. The FinCEN files say the source and purpose of the transactions were in doubt and the account was reported to the Joint Financial Intelligence Unit (JFIU) for possible closure.
The discovery is part of a global investigation, otherwise known as #FinCENFiles, by the International Consortium of Investigative Journalists, BuzzFeed, and 108 other media partners in 88 countries of the world. This investigation, which spanned 16 months, is a collaborative work involving more than 400 journalists
The leaked FinCEN files are a large volume of confidential financial reports relating to the transaction activities of world leaders, terrorists, drug dealers and money launderers and filed by banks and other financial institutions to the government of the United States of America (USA) as required by the Bank Secrecy Act.