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The Nigerian Financial Intelligence Unit has vowed to disrupt the financial channels used by terrorists and other criminal elements in the country.
The agency stated that disrupting these financial channels would weaken the terrorists’ ability to perpetrate further criminal activities.
The Director-General of the NFIU, Hafsat Bakari, made this statement in Abuja on Tuesday during the GIABA workshop on the investigation and prosecution of terrorism financing cases.
She said, “Nigeria has faced an acute threat of terrorism for over a decade, particularly from groups such as Boko Haram, the Islamic State West Africa Province, and other amorphous groups.
“These extremist organisations have destabilised communities, wasted innocent lives, and continue to pose a threat to national security.
“Without the funds and finances that enable their activities, terrorists and terrorist organisations would not be able to carry out their heinous acts.
“Funds, supplies, and other material assistance are therefore central to terrorists’ ability to operate. That is why this workshop by GIABA is critical.
“Disrupting the financial channels terrorists use is crucial to weakening their ability to function. This workshop could not be more timely or relevant as we seek to sharpen our collective response to this menace.”
Offering solutions, the NFIU boss explained that by analysing transaction patterns, identifying suspicious activities, and tracing funds across borders, it would be easier to uncover the sponsors and facilitators of terrorism.
She said, “At the NFIU, we recognise that to successfully disrupt terrorist activities and ultimately dismantle terrorist organisations, efforts must be geared towards not only apprehending the individuals who commit acts of terror but also tracing and cutting off the funds that fuel their activities.
“Financial investigations are pivotal to this process. By analysing patterns of transactions, identifying suspicious activities, and tracing funds across borders, we can uncover the sponsors and facilitators of terrorism.
“However, financial investigations are complex. Terrorism evolves and typologies are constantly shifting. To keep track and disrupt them requires specialised skills, deep and effective collaboration between agencies, and effective coordination with international partners.”
