NIGERIA: CENTRAL BANK COMPLIES WITH PATRIOT ACT

UNCLAS ABUJA 000113 SIPDIS DEPT PASS TO S/CT, EB/ESC/ESP, AF/W E.O. 12958: N/A TAGS: KCOR ETTC PTER NI SUBJECT: NIGERIA: CENTRAL BANK COMPLIES WITH PATRIOT ACT AND LOOKS FOR TERRORIST-HELD ACCOUNTS REF: A. STATE 01 219298 ¶B. STATE 01 218088 ¶C. STATE 01 222432 ¶D. STATE 4264 ¶1. On January 4, Deputy Governor for Domestic Operations M. ¶R. Rasheed met with Embassy EconOff regarding steps the Central Bank might take in response to Refs A, B and C regarding the Patriot Act and additional terrorist lists. Rasheed reported that the Central Bank would issue circulars requesting all banks to examine whether they hold accounts by terrorist entities identified Ref A and C. The CBN would issue a separate circular requesting all Nigerian banks to immediately communicate with U.S. correspondent banks and provide them with the information required by the Patriot Act, he said. ¶2. On January 9, EconOff sent Ref D list of terrorist entities to Deputy Governor for International Operations Ernest Ebi, who Post later discovered was on leave. On January 14, EconOff sent the list to Deputy Governor Rasheed who confirmed that the CBN would issue a circular by January 16 requiring all banks to review their accounts accordingly. ¶3. Rasheed said that the CBN would not undertake routine investigations to ensure banks are providing full-disclosure. However, he welcomed specific information on possible terrorist links from the U.S. that would initiate a CBN investigation into a specific bank's activities. Rasheed commented that the CBN had initiated investigations into Africa International Bank and Habib Bank based on suggestions that they may have ties to the Middle East. However, no terrorist-held accounts have been discovered as of January 15. ¶4. Rasheed, as former CBN Director of International Operations, had worked with the U.S. Embassy and Treasury Department extensively in the past, in particularly on 419 issues. He said that the CBN wants to take a leadership role in West Africa and on the continent in fighting terrorism. He has very strong personal feelings, having lunched on the top floor of the World Trade Center on September 7. Jeter