President Bola Tinubu has emphasized his administration’s commitment to dismantling the financial networks supporting terrorism in Nigeria.
Over the past two years, more than 100 individuals involved in financing terrorist activities have been convicted, although their identities remain undisclosed.
This announcement was made during the opening ceremony of the 2025 National Anti-Money Laundering, Counter-Financing of Terrorism, and Proliferation Summit in Abuja.
Tinubu, represented by Secretary to the Government of the Federation, George Akume, highlighted the government’s proactive approach in targeting the financial systems sustaining groups like Boko Haram and ISWAP.
“Our efforts have significantly curbed the capacity of terrorists to harm our citizens and communities by cutting off their financial and material support.
“This is fostering the revitalization of rural areas,” Tinubu said.
He credited the achievements to the collaborative efforts of frontline troops, security agencies, and key offices such as the National Security Adviser and the Attorney-General of the Federation.
Acknowledging the vital role of private sector stakeholders, including banks, legal professionals, and accountants, Tinubu stressed their importance in the nation’s framework for combating money laundering and terrorism financing.
He also called for greater vigilance and collaboration to safeguard national wealth.
Tinubu expressed concern over Nigeria’s inclusion on the Financial Action Task Force (FATF) gray list in February 2023.
He described the listing as a serious blow to the nation’s economy and reputation, urging swift implementation of reforms outlined in an agreed-upon Action Plan.
The plan is overseen by a high-level committee chaired by the Attorney-General and coordinated by the Nigerian Financial Intelligence Unit (NFIU).
Hafsat Bakari, CEO of the NFIU, underscored the importance of collaboration in the fight against financial crimes.
She emphasized that collective efforts from political leaders, regulators, financial institutions, and international partners are essential for protecting the financial system and reducing risks.