Fighting Terrorism: Nigerian Financial Intelligence Unit CEO Calls for Private Sector Inclusion in Anti-Money Laundering Framework
The Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, has emphasized the need to include private sector stakeholders in the country’s Anti-Money Laundering and Counter-Financing of Terrorism and Proliferation (AML/CFT/CPF) framework. Speaking at an event organized by the Centre for International Private Enterprise in Washington, D.C., Bakari stressed that the involvement of the private sector would guarantee the success of strategies aimed at disrupting the finances of terrorists.
Nigeria, according to Bakari, is facing significant internal security challenges, including banditry and kidnapping linked to terrorism, and has been a major victim of terrorist activities in the Sahel region. The flow of weapons from Libya is a source of concern, directly associated with the escalation of Nigeria’s internal security crisis.
Bakari also called on the international community to provide assistance in combating terrorism financing in the country. She revealed that the NFIU has revived the Joint Task Force created to fight terrorism financing in the Sahel, with member states set to meet in Abuja later this month to sign a memorandum of understanding.
“We need a sustainable solution to this problem, and we need the help of the international community to get there,” Bakari said. “Nigeria does not need a stopgap measure in fighting terrorism. We need a long-term solution, and we need your help to get there.”
Bakari emphasized that the NFIU has the political will and support to do its job, but needs institutional backing to achieve its mandate. She highlighted the importance of international cooperation in the fight against terrorism and financing proliferation in the Sahel and Lake Chad regions.
The NFIU’s efforts to revitalize the Joint Task Force on tackling terrorism financing in the Sahel region are a significant step forward in the country’s efforts to combat terrorism. With the support of the international community, Nigeria can effectively disrupt the finances of terrorists and prevent the spread of terrorism in the region.
