President Bola Tinubu on Tuesday revealed that over 100 terrorist financiers have been prosecuted and convicted in the past two years as part of efforts to build a globally competitive economy and enhance citizens’ livelihoods.
Tinubu made this revelation at the opening of the 2025 National Anti-Money Laundering, Counter Financing of Terrorism and Proliferation, AML/CFT/CPF, Summit in Abuja.
The President, represented by the Secretary to the Government of the Federation, SGF, Senator George Akume, noted that the administration has made progress in addressing the threats of terrorism and other violent crimes through the gallant actions of the country’s frontline troops and security agencies.
“However, in line with the National Counter-Terrorist Financing Strategy, we have also enhanced our abilities to identify and pursue those individuals financing violent acts. Through the efforts of the Office of the National Security Adviser and the Honourable Attorney-General of the Federation, we have prosecuted and convicted over 100 terrorist financiers in the past two years.
“By taking away the funds, resources, and material support behind Boko Haram and ISWAP, we are denying them the ability to inflict terror on our communities and citizens. We are creating an environment where our rural areas will thrive once again,” he said.
He stated that this approach of targeting finances and “following the money” is recognised as a global best practice in combatting serious crime.
According to him, through the National Anti-Money Laundering and Counter-Terrorist Financing, AML/CFT, Strategy, the National Anti-Corruption Strategy, and the National Drug Control Master Plan, law enforcement and prosecutorial authorities are focused on disrupting criminal financial networks.
He recalled that following Nigeria’s listing on the Financial Action Task Force, FATF, grey list in February 2023, the country made a high-level political commitment to implement an Action Plan addressing deficiencies in its AML/CFT/CPF framework.
While claiming significant progress in implementing this action plan, Tinubu assured the Inter-Governmental Action Group Against Money Laundering in West Africa, GIABA, and FATF that “this administration remains committed to completing all items on the Action Plan by the deadline of May 2025 and exiting the grey list.”
He added that the country’s strategic objective goes beyond completing the Action Plan to ensure the National AML/CFT/CPF regime—across both public and private sectors—achieves the highest levels of effectiveness, efficiency, and compliance.
“This goal encompasses the current efforts to exit the grey list, effective preparation for the on-site assessment once the Action Plan is completed, and in the medium term, early preparation for the next mutual evaluation due in 2027,” he said.
Meanwhile, Tinubu commended the Nigerian Financial Intelligence Unit, NFIU, for its foresight in organising the summit and its efforts in implementing the FATF Action Plan to exit the grey list, as well as strengthening Nigeria’s AML/CFT framework.
“The NFIU, as the National AML/CFT coordinating agency, the secretariat of the Inter-Ministerial Committee, and the National Sanctions Committee, plays a pivotal role in preventing and detecting serious crimes in our dear country.
“Indeed, the NFIU has continued to make valuable contributions to the economic development agenda of this administration by supporting federal and state revenue-generating agencies with data to improve domestic revenue mobilisation.
“The intelligence provided by the NFIU supports investigations and prosecutions of particularly complex money laundering and terrorist financing cases. Its leadership role in the regional and global AML/CFT arena demonstrates Nigeria’s commitment to international standards,” he said.
Earlier, the Chief Executive Officer of the NFIU, Mrs Hafsat Abubakar Bakari, noted that the summit serves as a medium to consolidate the gains of the national AML/CFT/CPF strategy.
Bakari added that the summit also aims to strengthen Nigeria’s financial system, build the capacity of reporting entities, and foster partnerships to effectively combat money laundering, terrorism financing, and proliferation financing.
“Your presence here underscores the critical importance of imbibing a compliance culture, which represents our shared commitment to protecting Nigeria’s financial system from abuse by criminals and other non-state actors,” she said.
While claiming substantial progress in the fight against financial crimes, Bakari stressed the need to sustain these gains continuously.
“This summit, therefore, is more than a gathering; it is a clarion call for all of us to align our efforts, identify innovative solutions, and reaffirm our commitment to building a resilient and transparent financial system that meets the highest international standards.
“Notably, we have made giant strides in AML/CFT/CPF obligations by reporting entities. Among other things, this summit seeks to sustain a compliance-first culture across all reporting entities in Nigeria,” she said.
“Our vision at the NFIU is to be the leading FIU in the world. Currently, we are already among the best. This is why we are witnessing the convergence of compliance officers across the financial sector, who are primarily responsible for AML/CFT/CPF reporting obligations,” she added.
The theme of the two-day summit is “Shaping the Future of Financial Integrity in Nigeria: Emerging Trends and Best Practices.”
