In a significant stride towards combating terrorism financing, the Nigerian government has announced the conviction of over 730 individuals for terrorism-related offences. This development is part of Nigeria’s intensified efforts to exit the Financial Action Task Force (FATF) grey list.
Major General Adamu Laka, National Coordinator of the National Counter Terrorism Centre (NCTC), disclosed this at an on-site meeting with the FATF in Abuja. He highlighted that more than 90 of these convictions were secured with direct support from the Nigeria Financial Intelligence Unit (NFIU), underscoring the success of inter-agency collaboration in tracking and disrupting financial networks that support terrorist groups.
General Laka emphasized that disrupting the financial lifelines of terrorist organizations is central to Nigeria’s national counterterrorism strategy. He expressed the country’s commitment to this cause and acknowledged the ongoing partnership with both domestic and international stakeholders, including the U.S. Department of the Treasury.
The FATF is currently inspecting facilities in place to combat terrorism financing and dismantle illicit financial networks, ahead of the visit of the FATF team. The outcome of this evaluation will determine Nigeria’s progress towards exiting the grey list.
This concerted effort reflects Nigeria’s determination to strengthen its legal and institutional frameworks in combating terrorism financing and to enhance its standing in the international community.
This progress comes after Nigeria was placed on the FATF grey list in February 2023 due to deficiencies in its anti-money laundering and counter-terrorism financing frameworks. The country has since made significant strides in addressing these issues, with the FATF acknowledging Nigeria’s progress in its recent evaluations.
The FATF’s upcoming assessment will be crucial in determining whether Nigeria has met the necessary standards to exit the grey list and demonstrate its commitment to combating terrorism financing on a global scale.