President Bola Tinubu, on Tuesday, said his administration had been targeting the financial backbone of terrorist groups in the country.
This was, as he said, over 100 terrorist financiers had been convicted in the last two years.
Speaking at the opening of the 2025 National Anti-Money Laundering, Counter-Financing of Terrorism and Proliferation Summit in Abuja, Tinubu, who did not disclose the names of any of the convicted financiers, stated that the strategy was meant to prevent the terrorists from terrorising the citizens.
Represented by the Secretary to the Government of the Federation, George Akume, Tinubu said, “We have made progress to tackle the threats of terrorism and other violent crimes through the gallant action of our frontline troops and our security agencies.
However, in line with the National Counter-Terrorist Financing Strategy, we have also enhanced our abilities to identify and pursue those individuals that finance these violent acts. Through the
efforts of the Office of the National Security Adviser and the Honourable Attorney-General of the Federation, we have prosecuted and convicted over 100 terrorist financiers in the last two years.
“By taking away the funds, resources and material support behind Boko Haram and ISWAP, we are denying them the ability to inflict terror on our communities and citizens. We are creating an environment in which our rural areas will thrive once again.”
Tinubu also said his administration acknowledged the roles of lawyers and accountants in the effort to protect the nation’s commonwealth.
He said, “This administration also recognises the important role played by the private sector in our Anti-Money
Laundering and Counter-Terrorist Financing framework. As the gatekeepers, our banks, capital market firms, lawyers and accountants are the first line of defence in our joint effort to protect our commonwealth.”
Tinubu, however, expressed concern over the gray listing of the country.
He said, “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 Honourable Attorney-General of the Federation, the Minister of Finance and the Minister of Interior as the Chair and co-Chairs of the Inter-Ministerial Committee on AML/CFT/CPF, and the coordination of the Nigerian Financial Intelligence Unit, we have made significant progress toimplement this Action Plan.”
The CEO of the Nigerian Financial Intelligence Unit, Hafsat Bakari, stated that the fight against financial crimes was not one that any single entity can win alone.
“It requires the collective strength and commitment of our political leaders, regulators, financial institutions, law enforcement and security agencies, and international partners. Collaboration must be at the heart of our approach if we are to succeed in mitigating risks and safeguarding our financial system,” Bakari said.
