FG, GIABA and UNODC work together to better tackle terrorist financing – Voice of Nigeria

The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) of the Federal Government of Nigeria, the United Nations Office on Drugs and Crime (UNODC) and other stakeholders are organizing a three-day training for personnel responsible for combating terrorist financing.

The theme of the training is “Developing effective tools and strategies to combat terrorist financing”.

In his address at the event, the Director General of GIABA, Mr. Edwin W. Harris Jr., represented by Dr. Geoffrey Asima, Director of Evaluation and Compliance, commended Nigeria for its continued efforts to promote cooperation and collaboration among relevant authorities in combating transnational organized crime, particularly in tackling money laundering and terrorist financing.

He acknowledged that these achievements should be noted, but stressed the importance of improving cooperation between stakeholders, hence the need to train key officials charged with tackling terrorist financing.

“The logical principle is quite simple: if terrorists do not have money, they cannot buy weapons, buy parts to build bombs, pay for transportation and logistics, pay for propaganda, recruit followers and reward fighters, and sustain the group. Therefore, taking money from terrorists prevents attacks and saves lives.”

In her goodwill message, Hafsat Abubakar Bakari, Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), commended GIABA for organizing the training.

She noted that such collaborations have yielded positive results in the past, thereby increasing public confidence in the NFIU.

“Our continued partnership with GIABA and the collaboration of international partners such as UNODC and regional stakeholders have been instrumental in addressing the evolving threat of terrorism and its financing, not only in Nigeria but across the West African region. I also sincerely thank the Honourable Minister of Home Affairs for his personal presence here today. As one of the three Ministers for the implementation of the AML/CFT/CPF regime in Nigeria, it is heartening that he is here. It demonstrates Nigeria’s high-level commitment to ensuring effective implementation of the standards required of us.”

Nigeria has faced a significant threat from terrorism for over a decade, mainly from groups such as Boko Haram and the Islamic State West Africa Province (ISWAP), among other factions.

These extremist groups have destabilized communities, claimed countless innocent lives, and continue to pose a threat to national security.

Their ability to carry out violent acts is largely dependent on financial support. Without adequate funding and resources, their activities would be severely hampered.

The NFIU Director noted the following:

“To successfully disrupt terrorist activities and ultimately dismantle terrorist organizations, efforts must not only focus on apprehending the individuals who commit terrorist acts, but also on tracing and blocking the funds that finance their activities.

“Financial investigations are crucial to this process. By analyzing transaction patterns, identifying suspicious activity, and tracing funds across borders, we can expose the sponsors and facilitators of terrorism.

“The NFIU remains committed to supporting initiatives that enhance our collective ability to investigate, prosecute, and ultimately eliminate terrorist financing. I encourage all participants to engage deeply, share their experiences, and leverage the expertise that exists here.”

While declaring the training open, the Minister of Interior, Dr. Olubunmi Tunji Ojo, called for greater international cooperation to sustain the gains of the President Tinubu-led government.

He said that countries should take all necessary measures to prevent the creation of safe havens for individuals involved in financing terrorism, committing terrorist acts or supporting terrorist organisations, and that there should be clear procedures for prosecuting those responsible.

He stressed the importance of cooperation, particularly through information sharing, to effectively combat the financing of terrorism.

The training included participants from the Nigerian Police Force, National Drug Law Enforcement Agency (NDLEA), Department of State Services (DSS), Financial Intelligence Agencies, the Military and other relevant stakeholders in Nigeria.