The Nigerian Financial Intelligence Unit (NFIU) has vowed to leave no stone unturned in its quest to combat money laundering and other financial crimes in the country.
Speaking at the opening session of the 1st NFIU Management Retreat in Abuja on Monday, the CEO of NFIU, Hajiya Hafsat Bakari, emphasized the unit’s commitment to working with stakeholders to achieve this goal, citing the need for collaboration and information sharing to stay ahead of criminals.
According to her, the NFIU’s efforts aim to remove Nigeria from the Financial Action Task Force (FATF) grey list by May 2025.
To achieve this, Bakari stated that the NFIU has developed a robust and innovative organizational structure, prioritizing high-risk predicate offenses and enhancing domestic cooperation to contribute to ongoing law enforcement and regulatory actions.
She explained that the unit has also established joint task forces and inter-agency committees to strengthen mutual cooperation in tackling criminal activity and has engaged extensively with the private sector to leverage its expertise and resources.
In addition, Bakari disclosed that the NFIU has mentored other Financial Intelligence Units (FIUs) in the region, including those in Liberia, Gambia, and Sierra Leone, and is working towards becoming the second African member state of the FATF after South Africa.
The CEO also recognized the support of stakeholders, including the President, government officials, and international partners, and pledged to continue working together to achieve their common goal.
Bakari said, “We recognize that without all of you, from the institutions that act as gatekeepers to the competent authorities that follow the money, and the prosecutors and judiciary that ensure appropriate sanctions are applied for violations of the law, our work counts for very little. I believe that if we work together in true partnership, our success is not only possible, it is guaranteed.
“Our primary role is to ensure that we are able to leverage the multiple sources of information and data we have access to, in order to provide national and international competent authorities with the intelligence they require to investigate crimes and prosecute criminals.
“We will continue to enhance our domestic cooperation. Our goal is to be able to contribute on a real-time basis to ongoing law enforcement and regulatory actions.
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