Odimmegwa Johnpeter/Abuja
The Nigeria Financial Intelligence Unit (NFIU) has attributed Nigeria’s removal from the European Union’s list of high-risk third countries to the Federal Government’s intensified efforts to combat terrorism financing and money laundering.
The Head of Strategic Communications at the NFIU, Aishatu Bantam, disclosed this on Thursday at a joint security press briefing by defence, security, response and law enforcement agencies organised by the Office of the National Security Adviser (ONSA) in Abuja.
Bantam said the EU decision, which took effect on Jan. 29, reflected Nigeria’s improved anti-money laundering and counter-terrorism financing framework, stronger enforcement, and enhanced inter-agency collaboration.
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She said the development would strengthen international banking relationships, reduce transaction costs, facilitate cross-border payments and remittances, and boost investor confidence in Nigeria’s financial system.
According to her, the NFIU has deepened collaboration with the Economic and Financial Crimes Commission (EFCC), Nigeria Police Force, Corporate Affairs Commission and financial regulators to convert suspicious transaction reports into investigations and asset recovery.
Bantam said preparations were underway for Nigeria’s 2027 Mutual Evaluation through a National Risk Assessment involving about 55 public and private institutions to further strengthen the country’s financial crime detection systems.
She added that Nigeria had expanded intelligence-sharing partnerships with Mozambique, the Republic of Congo and The Gambia, while enhancing capabilities in blockchain analytics, cryptocurrency intelligence and digital asset tracing.
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The NFIU spokesperson said the Nigeria Sanctions Committee had designated six individuals and three entities over alleged links to ISWAP terrorism financing, with financial institutions directed to freeze related assets.
She noted that the United States Office of Foreign Assets Control had also sanctioned one of the designated individuals and two associated companies, underscoring growing international cooperation against terrorism financing.
Bantam reaffirmed the agency’s commitment to strengthening compliance, expanding the use of artificial intelligence in financial crime detection, and deepening global partnerships ahead of the 2027 Mutual Evaluation.
Also speaking, the spokesperson for the EFCC, Dele Oyewale, said the commission secured 915 convictions for economic and financial crimes between January and April 2026, reflecting sustained efforts to combat corruption.
Oyewale said the convictions included four high-profile public officials: former Managing Director of NEXIM Bank, Robert Orya; former Senator representing Akwa Ibom North-East, Albert Bassey; former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku; and former Minister of Power, Saleh Mamman.
According to him, the convictions demonstrated the commission’s commitment to accountability and reinforced the Federal Government’s resolve to strengthen transparency, uphold the rule of law, and tackle economic and financial crimes.
The spokesperson for the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Hassan Salihu, said the commission secured 20 convictions and recovered more than ₦5.79 billion in proceeds of crime between January and June 2026.
Salihu said the ICPC received 271 petitions during the period, assigned 234 cases for investigation, and filed 25 cases in court, resulting in the convictions.
He added that the commission conducted 33 systems studies and corruption risk assessments, 42 corruption monitoring exercises, and inaugurated 58 Anti-Corruption and transparency units in Ministries, Departments and Agencies.
According to him, the commission also organised 291 sensitisation programmes reaching 199,291 people, established 68 Anti-Corruption Clubs and expanded public engagement through broadcast and digital platforms, recording more than 5.17 million social media engagements and 88,910 website visits.
Salihu said the achievements underscored the ICPC’s commitment to combating corruption, recovering public assets, and promoting accountability to strengthen national security and public confidence.
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