By Bida Elly David
National Minister of Finance and fiscal planning, Dier Tong Ngor seeks to reinvigorate the financial intelligence unit to check on crimes within the institutions.
In presentation of an assessment report on Friday, Ngor urged the cabinet to increase allocations for the ministry to boost the Financial Intelligent Unit (FIU) to mitigate crimes in the treasury.
Mr. Ngor said that the Financial Intelligent Unit of the ministry which had remained dormant due to lack of funding needed an increment in the budgetary allocation to resume operationalization.
The minister also tabled a request for the Financial Intelligence Unity to acquire a logo, for its effective operations.
However, the minister didn’t explain whether his quest for the revamping of the unity has been formed as a result of cases of financial mismanagement and money laundering in the Country.
Meanwhile, the minister of information, who is also the government spokesperson, Michael Makuei Lueth, also offered additional statements to the media over the report.
“After thorough deliberation, the cabinet decided to adopt the resolution of the finance ministry,’’ Makuei said.
According to Makuei three designs of logo were presented and the economic cluster chose one which was approved.
Makuei also noted that despite approval of the report, the minister of finance has not tabled any proposed budget for the establishment of the Unit’s logo.
He noted that there is no way the cabinet will come up with another budget for the running of the finance Intelligence Unit (FIU).
“He has not stated an amount that he needs because he has to make a budget for it. As you know the budget is before the parliament and there is no way for us to come with another budget,’’ Makuei added.
In clarity, minister Makuei said the Finance Intelligence Unit is a sector that fights money laundering and financial crimes within financial institutions across the country.
“It is a security unit within the Ministry of Finance and fiscal planning that is in charge of fighting crimes to do with finances. This unit was established in 2012 and is operational up to now,’’ he said.
He noted that the minister of finance only urged for more funding to strengthen their activities of treasury management.