NFIU boss seeks review of anti-money laundering law

The Chief Executive Officer of the Nigerian Financial Intelligence Unit, Hafsat Bakari, has called for the adjustment of the Anti-Money Laundering and Counter-Financing of Terrorism and Proliferation framework to accommodate those in the private sector.

She noted that their inclusion would guarantee the success of strategies aimed at disrupting the finances of terrorists.

Bakari, according to a statement shared by the NFIU’s spokesperson, Sani Tukur, on Thursday, spoke at an event organised by the Centre for International Private Enterprise in Washington, D.C.

The statement partly read, “Bakari noted that Nigeria is on the receiving end of terrorist activities in the Sahel and must adjust its AML/CFT/CPF strategy to include the private sector to succeed.

“She added that Nigeria faces a significant internal crisis of banditry and kidnapping linked to terrorism and that 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 help curb terrorism financing in the country.

She stated that her agency had revived the Joint Task Force created to fight terrorism financing in the Sahel.

Bakari added that member states would meet in Abuja to sign a memorandum of understanding later in the month.

The statement added, “The CEO also highlighted that the NFIU has the political will and support to do its job, but needs institutional backing to achieve its mandate. She further added that Nigeria requires assistance from the international community in the fight against terrorism and financing proliferation in the Sahel and the Lake Chad region.

“She revealed that the NFIU was able to revive the Joint Task Force on tackling terrorism financing in the Sahel, and later this month, member states will meet in Abuja to sign an MOU to that effect. Mrs Bakari told the audience, ‘Nigeria does not need a stopgap measure in fighting terrorism. We need a sustainable solution, and we need your help to get there.'”

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