President Bola Tinubu said Tuesday that over 100 terrorist financiers were prosecuted and convicted in the last two years.
He stated this at the opening of the 2025 National Anti-Money Laundering, Counter-Financing of Terrorism and Proliferation (AML/CFT/CPF) Summit in Abuja.
Represented by the Secretary to the Government of the Federation (SGF), George Akume, the president attributed the success to the efforts of the Office of the National Security Adviser and the Attorney-General of the Federation.
He said government’s strategy of targeting the financial backbone of terrorist organisations like Boko Haram and ISWAP is to tadke away the funds and resources behind the groups.
Consequently, he argued that “we are denying them the ability to terrorise our communities.”
He stated further that strategies such as the National Anti-Money Laundering and Counter-Terrorist Financing Strategy, the National Anti-Corruption Strategy, and the National Drug Control Master Plan are checkmating criminal financial networks.
He said the steps taken focuses on combating crimes that harm Nigeria’s global reputation and hinder citizens’ ability to conduct business internationally.
The federal government has also invested in upgrading the capacity of law enforcement agencies like the Nigeria Police, Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), and the National Drug Law Enforcement Agency (NDLEA).
The summit emphasises the role of private sector in combating financial crimes saying that financial institutions, capital market firms, lawyers, and accountants serve as the first line of defense.
“An efficient private sector is crucial to Nigeria’s ambition of becoming a middle-income country,” he said.
He pointed out that regulatory agencies, including the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and the National Insurance Commission, strengthened financial supervision while the Special Control Unit Against Money Laundering within the EFCC has worked to ensure compliance across financial and non-financial businesses.