Nigeria Achieves 100+ Convictions for Terror Financing, Says SGF Akume
In a significant milestone, Nigeria has successfully secured over 100 convictions against individuals financing terrorism in the past two years. Secretary to the Government of the Federation (SGF), George Akume, shared this impressive feat during the National Anti-Money Laundering and Counter-Terrorism Financing Summit held at the Presidential Villa, Abuja. The event, organized by the Nigerian Financial Intelligence Unit (NFIU), brought together key players from various sectors.
Speaking on the progress, Akume highlighted the government’s focused efforts to combat terrorism not just on the battlefield but by cutting off the funds that fuel these violent acts. According to him, the National Counter-Terrorist Financing Strategy has been instrumental in identifying and prosecuting those behind the funding of groups like Boko Haram and ISWAP.
“We’ve denied them the financial resources they need to spread terror,” Akume said, emphasizing how this approach has allowed rural areas to rebuild and thrive. He also noted that targeting terrorist financing and tracking illicit money is now a cornerstone of Nigeria’s fight against serious crime, aligning with global best practices.
While details about the convicted individuals remain undisclosed, Akume acknowledged the challenges of bringing all suspects to court. Reports suggest that some individuals accused of financing terrorism were detained for months without trial.
Nigeria’s Financial System Under Scrutiny
The CEO of NFIU, Hafsat Bakari, also addressed the summit, calling for stronger collaboration among stakeholders. She emphasized that fighting financial crimes requires teamwork from regulators, law enforcement, financial institutions, and international partners.
Bakari pointed out that Nigeria’s placement on the “grey list” by the International Cooperation Review Group (ICRG) highlighted weaknesses in its anti-money laundering and counter-terrorism financing systems. This designation has increased pressure on the country to improve its financial systems and strengthen reforms.
However, Bakari reassured attendees that the NFIU and its partners have worked tirelessly to address these shortcomings. “Collaboration is the key to safeguarding Nigeria’s financial system,” she stated, urging continuous commitment to combating financial crimes.
Progress Amid Challenges
Despite the challenges, the achievements in convicting over 100 terrorist financiers signal a positive step forward for Nigeria. Cutting off financial resources has proven to be a powerful strategy, denying terror groups the means to operate and protecting Nigerian communities from harm.
