FG, GIABA, UNODC Partner to Strengthen Tackle Terrorism Financing

The Federal Government of Nigeria Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), United Nations Office on Drugs and Crimes (UNODC) and other stakeholders are holding a three-day training for personnel tasked with the responsibility of combatting terrorism financing.

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

In his remarks 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 ongoing efforts to foster cooperation and collaboration among relevant authorities in combating transnational organised crime, particularly in addressing money laundering and terrorism financing.

He acknowledged that these achievements need to be mentioned while emphasising the importance of enhancing collaboration among stakeholders; hence, the need for training key officials tasked with the mandate of curbing terrorism financing.

“The logical principle is quite simple: if terrorist have no money, they cannot buy weapons, buy components to build bombs, pay for transportation and logistics, pay for propaganda, recruit followers and remunerate fighters and maintain the group. Therefore, taking money from terrorists greatly prevents attacks and saves lives.”

In her goodwill message, the Director/CEO of the Nigerian Financial Intelligence Unit, NFIU, Hafsat Abubakar Bakari, applauded GIABA for organising the training.

She noted that such collaborations in the past have brought positive results thereby promoting citizen’s confidence in the NFIU.

“Our continued partnership with GIABA and the collaboration of international partners like 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 for Interior, for his personal presence here today. As one of the three-line 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, primarily from groups like Boko Haram and the Islamic State West Africa Province (ISWAP), along with other factions.

These extremist groups have destabilised communities, taken countless innocent lives, and continue to endanger national security.

Their ability to execute violent acts rely heavily on financial support; without sufficient funds and resources, their operations would be severely hampered.

Thus, the Director, NFIU noted 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 to tracing and cutting off the funds that fuel their activities.

“Financial investigations are pivotal to this process. By analyzing patterns of transactions, identifying suspicious activities, and tracing funds across borders, we can uncover the sponsors and facilitators of terrorism.

“The NFIU remains dedicated to supporting initiatives that enhance our collective ability to investigate, prosecute, and ultimately eliminate the financing of terrorism. I encourage all participants to engage deeply, share their experiences, and take full advantage of the expertise present here.”

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

He stated that countries must take all necessary measures to prevent providing safe havens for individuals involved in financing terrorism, committing terrorist acts, or supporting terrorist organizations, and should have clear procedures for prosecuting those responsible.

He emphasised the importance of collaboration, particularly through information sharing, to effectively combat the financing of terrorism.

The training drew participants from the Nigeria Police Force, National Drug Law Enforcement Agency (NDLEA), Department of State Services (DSS), financial intelligence units, the military, and other relevant stakeholders in Nigeria.