Nigerian authorities have secured the conviction of over 100 terrorist financiers within the last two years, Secretary to the Government of the Federation (SGF) George Akume said on Tuesday.
The SGF said this during the National Anti-Money Laundering, Combating Terrorism Financing and Counter Proliferation Financing (AML/CFT/CPF) Compliance Summit iheld at the Presidential Villa in Abuja.
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The event was organised by the Nigerian Financial Intelligence Unit (NFIU).
“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, he said, adding that,
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“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 Attorney-General of the Federation, we have prosecuted and convicted over 100 terrorist financiers in the last two years,” Mr Akume noted.
The SGF highlighted the successful prosecution as part of the administration of President Bola Tinubu.
He added that by taking away the funds, resources and material support behind Boko Haram and ISWAP, the government denied them the ability to inflict terror on Nigerian communities and citizens, and created an environment for rural areas to thrive once again.
Mr Akume further revealed that the approach of targeting finance and following the money is recognised as the best global practice in combatting serious crime. “It is an approach that we are utilising as a fundamental component of our national strategies to combat serious criminal offences. Beyond terrorist financing, we are effectively targeting the illicit proceeds of criminal activity,” he said.
Although the SGF did not provide the details of the over 100 convicted terrorism financiers, not all those arrested and detained for terrorism financing were charged to court. PREMIUM TIMES reported how the government detained many suspects for about 16 months without trial for allegedly financing terrorism. The report detailed how many of the suspects, mostly bureau de change operators, were arrested in Kano and later transferred to Abuja where they were detained in inhumane conditions without trial. The government kept mum about the situation even after this newspaper revealed the atrocity.
Nigeria on grey list
Also speaking during the event, the chief executive officer of NFIU, Hafsat Bakari, called on stakeholders to collaborate with the organisation to succeed in mitigating risks and safeguarding Nigeria’s financial system.
“The fight against financial crimes is 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.
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“Collaboration must be at the heart of our approach if we are to succeed in mitigating risks and safeguarding our financial system,” she said.
She said the presence of such a diverse and distinguished group of stakeholders in the public and private sectors here today is a testament to the power of collaboration.
Lamenting the 2019 Mutual Evaluation Report conducted by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) which brought to light areas where Nigeria needed to strengthen its AML/CFT/CPF regimes, she regretted that the country was placed on grey list due to the deficiencies identified.
“As a result of the deficiencies identified, Nigeria was placed under enhanced monitoring by the International Cooperation Review Group (ICRG) process otherwise known as the so-called Grey List, an outcome that has amplified both the urgency and importance of our collective response.
“The NFIU, in collaboration with our partners, has worked tirelessly to address these findings and implement far-reaching reforms,” she said.
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