FG moves to exit terrorism financing watchlist after 730 convictions

The federal government says more than 730 individuals have been convicted for terrorism-related offences in Nigeria.

Speaking on Monday during an on-site inspection by the Financial Action Task Force (FATF), Adamu Laka, national coordinator of the National Counter Terrorism Centre (NCTC), noted that the convictions are part of ongoing efforts to remove Nigeria from the FATF grey list.

Laka said the task force is also assessing the existing infrastructure for combating terrorism financing and dismantling illicit financial networks in preparation for the upcoming visit by the FATF team.

“Disrupting the financial lifelines of terrorist organisations is central to our national counterterrorism strategy,” Laka said.

“We remain firmly committed to this cause and deeply value our ongoing partnership with both domestic and international stakeholders, including the US Department of the Treasury.

“Our ability to prosecute over 730 terrorism-linked cases is a testament to the effectiveness of our coordinated national approach. More than 90 convictions were secured with support from NFIU.”

He also commended the joint standard investigation committee on terrorism financing, describing its role as key to improving Nigeria’s capacity to investigate and prosecute complex financial crimes.

Laka said a simulation exercise was held to test Nigeria’s institutional readiness and align national strategies with FATF expectations.

“The strength of our collective preparation will determine the success of the upcoming FATF visit and, ultimately, Nigeria’s removal from the FATF Grey List,” he added.

Hajiya Hafsat Bakari, chief executive officer of the NFIU, said Nigeria had made “impressive progress” on all 19 action items required by FATF.

Bakari said the on-site inspection offers Nigeria a chance to show its commitment to strengthening its financial intelligence framework.

“The importance of this assessment is underscored by the size of the team coming to Nigeria. We will be hosting 11 reviewers covering all the immediate outcomes in our action plan,” Bakari said.

“And considering the difficulty the FATF has previously had in finding reviewers to come to some of the countries in Africa, this is indeed quite a sign of confidence in Nigeria.

“I’m also delighted to inform you that, as a recognition of the excellent work we have all done and our regional and global leadership, the FATF has invited Nigeria to join as a guest member.

“This essentially means that Nigeria will participate under its own flag in the discussions and projects of the FATF.

“While this does not mean a full member, it is nonetheless a further step on our journey to having a seat at the table and reaffirmation that we are on the right track.”

In 2023, Nigeria alongside South Africa were put on FATF’s grey list of countries that need to intensify efforts to tackle money laundering and terrorism financing.

On November 26, 2024, Bakari said her agency is working to remove Nigeria from grey list for money laundering.

She added that the country has achieved upgrades in five key recommendations from the FATF.