The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has underscored the decisive role of the media in tackling money laundering and terrorist financing which are crimes increasingly viewed as transnational threats to economic stability, governance and global security.
At an Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) media outreach in Abuja, the Chairman of the commission , Dr. Musa Aliyu, described the media as an “indispensable partner” in safeguarding economic integrity and democratic institutions.
Speaking through the ICPC’s Head of Media and Public Communications, Mr. Okor Odey, Aliyu warned that illicit financial flows continue to undermine national development worldwide.
He stressed that such crimes “erode public trust, distort markets and deprive citizens of resources meant for development,” highlighting their far-reaching consequences beyond Nigeria’s borders.
The event, organised by the Nigerian Financial Intelligence Unit (NFIU) in collaboration with the Inter-governmental Action Group Against Money Laundering in West Africa (GIABA), brought together journalists, regulators and policymakers to strengthen cross-sector cooperation in confronting financial crimes.
Dr. Aliyu noted that rapid advancements in digital technology, social media and artificial intelligence have transformed the landscape of financial crime, enabling criminal networks to exploit anonymity and speed to move funds across jurisdictions.
He, however, commended the deployment of advanced analytics and real-time monitoring tools by financial intelligence bodies, calling them critical in keeping pace with increasingly sophisticated networks.
In a strong call to action, he urged journalists to move beyond basic reporting.
“The media must go beyond information dissemination to intentionally promote anti-corruption ideals and financial integrity. Investigative journalism, public interest programming and responsible reporting are vital tools for exposing illicit financial flows and deterring wrongdoing,” he said.
NFIU Chief Executive Officer, Hajia Hafsat Bakari, highlighted the shared mission between journalists and financial intelligence agencies.
“Journalists turn the light of truth on critical issues, while we trace financial flows to ensure that illicit networks do not operate in the shadows. This partnership is essential in strengthening accountability and responsible governance,” she stated.
From a regional perspective, GIABA Director-General, Mr. Edwin W. Harris Jr., represented by Mr. Timothy Melaye, emphasised the media’s strategic importance in West Africa’s compliance with global AML/CFT standards, including those of the Financial Action Task Force (FATF).
“The fight against financial crimes cannot succeed without the media,” he said, urging journalists to deepen their understanding of complex financial systems and communicate them clearly to the public.
Nigeria’s Minister of Information and National Orientation, Alhaji Mohammed Idris, represented by Dr. Dili Ezughah, reinforced the government’s commitment to combating financial crimes through stronger institutional frameworks and partnerships.
“The media is not just a bystander but a powerful force in shaping national discourse and educating citizens on the dangers of money laundering and terrorist financing,” he noted.
Similarly, the Attorney-General of the Federation and Minister of Justice, Prince Lateef Olasunkanmi Fagbemi, SAN, stressed the importance of public awareness alongside legal and institutional reforms.
He affirmed that “enhanced intelligence-sharing, inter-agency collaboration and institutional support” remain central to national and international efforts against financial crimes.
Despite acknowledging challenges such as the technical complexity of AML/CFT reporting and concerns around journalist safety, stakeholders called for sustained collaboration, training and capacity building.
Participants at the outreach expressed optimism that stronger cooperation between the media and financial intelligence institutions would not only improve reporting standards but also contribute to a more coordinated global response to illicit financial activities.