Nigerian President Bola Tinubu has said that more than 100 terror financiers have been prosecuted and convicted in Nigeria in the last two years.
Addressing the Opening Session of the 2025 National Anti-Money Laundering, Counter Financing of Terrorism and Proliferation (AML/CFT/CPF) Summit in Abuja on Tuesday,
President Tinubu said that this was made possible through the efforts of the Office of the National Security Adviser and the Attorney-General of the Federation and by enhancing the country’s abilities to identify and pursue individuals who finance violent acts.
Represented by the Secretary to the Government of the Federation, Mr. George Akume, President Tinubu also expressed satisfaction in the progress already made in tackling the threats of terrorism and other violent crimes through the gallant action of the country’s frontline troops and the security’s agencies, harped on the importance of ensuring that the integrity of “Our financial system is sacrosanct.”
He noted that by taking away the funds, resources and material support behind Boko Haram and ISWAP, they are denied the ability to inflict terror on our communities and citizens.
This, he said, was possible through the National Anti-Money Laundering and Counter-Terrorist Financing, AML/CFT, Strategy, the National Anti-Corruption Strategy and the National Drug Control Master Plan, the efforts of key law enforcement and prosecutorial authorities targeted at disruption of the criminal financial networks.
“We are creating an environment in which our rural areas will thrive once again.
“This approach of targeting the finance and following the money is recognised as a global best practice in combatting serious crime. It is an approach that we are utilising as a fundamental component of our National Strategies to combat serious criminal offences.
“Beyond terrorist financing, we are effectively targeting the illicit proceeds of criminal activity.
“Through the National Anti-Money Laundering and Counter-Terrorist Financing, AML/CFT, Strategy, the National Anti-Corruption Strategy and the National Drug Control Master Plan, the efforts of our key law enforcement and prosecutorial authorities are targeted on disruption of the criminal financial networks. These strategies in particular target the most serious offences which have harmed the reputation of our country globally and caused significant difficulties to honest citizens travelling and doing business internationally.
“To enable more effective responses by our law enforcement agencies, this administration has invested significant resources into their operations, upgrading their human resources and technical capacity. We have also provided an enabling environment that prioritises the rule of law and non-interference in their operations.
“As an outcome of these investments, through the efforts of the Nigeria Police, the EFCC, ICPC and NDLEA the number of investigations and prosecutions being converted into convictions has continued to increase.
“These investigations are also targeting the organised groups and barons behind these crimes. The ultimate objective is to ensure that we dismantle the entirety of the networks that perpetrate these crimes,” he added.
He, however, bemoaned the inclusion of Nigeria on the list of jurisdictions under monitoring by the Financial Action Task Force, the so-called grey-list.
According to him, the listing of Nigeria in February 2023 has grave consequences for our economy and the reputational damage is one that we must all take very seriously. As part of the inclusion of Nigeria on the list, Nigeria made a commitment at the highest political levels to the implementation of an Action Plan to address the deficiencies identified in our national AML/CFT/CPF framework. Through the leadership of the
GIK/APA