NFIU pledges to combat money laundering, commits to collaboration, information sharing

The Nigerian Financial Intelligence Unit (NFIU) has reiterated its commitment to combating money laundering and other financial crimes in the country, and vowed to do everything in its power to do so.

Speaking at the opening session of the 1st NFIU Management Retreat in Abuja on Monday, CEO Hajiya Hafsat Bakari stressed 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 Bakari, the NFIU’s efforts aim to remove Nigeria from the Financial Action Task Force (FATF) grey list by May 2025. To achieve this, the unit has developed a robust and innovative organizational structure, prioritizing high-risk predicate offences and enhancing in-country cooperation to contribute to ongoing law enforcement and regulatory actions.

Bakari expressed gratitude for the support of stakeholders, including the President, government officials, and international partners, and pledged to continue working together to achieve common goals.

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“We realize that without all of you, from the institutions that act as gatekeepers to the competent authorities that monitor the flow of money, and the prosecutors and judiciary that ensure that appropriate sanctions are applied for violations of the law, our work would be meaningless,” he said.

Attorney General of the Federation, Lateef Fagbemi, commended the efforts of the NFIU, noting that its work was critical to Nigeria’s exit from the FATF grey list.

The Chairman of the National Drug Law Enforcement Agency (NDLEA), Brigadier General Buba Marwa (retd.), commended the NFIU’s swift response to requests for information, which has resulted in significant recoveries and convictions.

Deputy Governor of the Central Bank of Nigeria, Muhammad Sani Abdullahi, stressed the importance of financial intelligence in safeguarding the country’s financial system and pledged CBN support to the NFIU’s efforts.

Other speakers, including the Commandant General of the Nigerian Security and Civil Defence Corps, Abubakar Audi, also commended the work of the NFIU and pledged their support.

The 1st NFIU Management Retreat aims to develop a 5-year strategic plan and enhance domestic cooperation to contribute to ongoing law enforcement and regulatory actions.

NFIU vows to fight money laundering, commits to collaboration, information sharing first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.