HomeNigeriaNigeria Seeks Crack Down on Illicit Financial Flows

Nigeria Seeks Crack Down on Illicit Financial Flows

Margaret Ebeshi

Nigeria has called on African Union (AU) member states to strengthen efforts to combat illicit financial flows that continue to fund terrorism and violent extremism across the continent.

Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, made the call during a

Meeting of the AU Peace and Security Council at the ministerial level, held virtually.

She described illicit financing as a major obstacle to defeating terrorism, noting that it enables terrorist groups to recruit youths, procure sophisticated weapons and deploy technologies such as drones.

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“A major obstacle to any progress being made in the fight against terrorism in Africa is access to illicit funds. I call for stronger international cooperation to prevent, trace and recover proceeds of illicit financial flows,” she stated.

The minister also called for the implementation of commitments made at the 2022 Malabo Extraordinary Summit on Counter-Terrorism and the 2024 High-Level African Counter-Terrorism Meeting hosted by Nigeria.

Highlighting Nigeria’s efforts, Odumegwu-Ojukwu said the country has adopted a comprehensive counter-terrorism strategy combining military operations with non-kinetic measures, including tackling terrorist financing, deradicalisation, youth empowerment and regional cooperation through ECOWAS and the Multinational Joint Task Force.

She further advocated enhanced intelligence-sharing, stronger cybersecurity, disruption of terrorist financing networks and responsible use of artificial intelligence in combating terrorism.

The minister also urged international partners to adopt a zero-tolerance approach to terrorism by preventing non-state actors from acquiring arms, drones and other technologies used to fuel attacks across Africa.

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