NFIU Pledges Action Against Terror Funding Networks

NFIU Pledges Action Against Terror Funding Networks

The Nigerian Financial Intelligence Unit (NFIU) has pledged to disrupt the financial channels used by terrorists and other criminal groups in the country. This action aims to weaken their capacity to conduct further criminal activities……CONTINUE READING

NFIU Director-General Hafsat Bakari made this declaration during a GIABA workshop on investigating and prosecuting terrorism financing cases in Abuja on Tuesday. She highlighted that Nigeria has been grappling with terrorism for over a decade, particularly from groups such as Boko Haram and the Islamic State West Africa Province.

Bakari stressed that without the financial resources that sustain their operations, these extremist groups would struggle to carry out their violent acts. She emphasized the importance of disrupting these financial flows to undermine the terrorists’ ability to operate.

The NFIU plans to enhance its efforts by analyzing transaction patterns, identifying suspicious activities, and tracking funds across borders to uncover terrorism sponsors and facilitators. Bakari noted that effective financial investigations are crucial for dismantling terrorist organizations. However, she also acknowledged the complexity of these investigations due to the evolving nature of terrorism and the need for specialized skills and strong collaboration with both national and international partners.