By Jane Okeke
The Director General/ CEO, NFIU, Hafsat Abubakar Bakari has said disrupting the financial channels terrorists use is crucial to weakening their ability to function.
Bakari made the assertion during the GIABA workshop on the investigation and prosecution of terrorism financing cases.
She commended the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), for organizing this critical Workshop.
She said their continued partnership with GIABA and the collaboration of international partners like UNODC, and regional stakeholders have been instrumental in addressing the evolving threat of terrorism and its financing, not only in Nigeria, but across the West African region.
“Nigeria has faced an acute threat of terrorism for over a decade, particularly from groups such as Boko Haram, the Islamic State West Africa Province (ISWAP) and other amorphous groups. These extremist organizations have destabilized communities, wasted innocent lives, and are a continuing threat to national security. Without funds and finances that enable their activities, terrorists and terrorist organisations would not be able to carry out the dastardly acts they do. Funds, supplies and other material assistance are therefore central to terrorists’ ability to operate.
“And that is why this workshop by GIABA is critical. Disrupting the financial channels terrorists use is crucial to weakening their ability to function. This workshop could not be more timely or relevant as we seek to sharpen our collective response to this menace.
“At the NFIU, we recognize that to successfully disrupt terrorist activities and ultimately dismantle terrorist organizations, efforts must be geared towards not only apprehending the individuals who commit acts of terror, but also to tracing and cutting off the funds that fuel their activities.
“Financial investigations are pivotal to this process. By analyzing patterns of transactions, identifying suspicious activities, and tracing funds across borders, we can uncover the sponsors and facilitators of terrorism,” she said.
The NFIU Boss however, dded that financial investigations are complex. Terrorism evolves and typologies are constantly shifting.
According to her, to keep track and disrupt them, it requires specialized skills, deep and effective collaboration between agencies, and effective coordination with international partners.
“This workshop provides a unique opportunity for analysts, investigators, and prosecutors to enhance their knowledge and improve their techniques in tracing licit and illicit funds that are channeled to financing terrorism and building strong cases against the financiers of terrorism.
“Capacity building is one of the cornerstones of the National AML/CFT/CPF Financing Strategy (2023-2027) in tackling terrorism financing. Officers such as you the participants in this room today play a vital role in identifying and investigating these cases. Your ability to detect unusual financial patterns, analyze suspicious transactions, and build strong prosecutorial cases is paramount.
“The NFIU is committed to collaborating with partners to ensure that capacities of officers within the AML/CFT/CPF ecosystem, are upscaled in countering terrorism financing through financial investigations and other necessary skills and tools. This is why we have taken steps to launch the NFIU Training Centre which is intended to be a regional centre of excellence for AML and CFT,” she said.
Bakari assured that the NFIU remains dedicated to supporting initiatives that enhance our collective ability to investigate, prosecute, and ultimately eliminate the financing of terrorism.
“In closing, I would like to underscore the importance of this workshop in advancing our shared goal of combating terrorism financing. The knowledge you gain here, the strategies you develop, and the relationships you build will be crucial in our continued fight against those who seek to destabilize our nations.
“The NFIU remains dedicated to supporting initiatives that enhance our collective ability to investigate, prosecute, and ultimately eliminate the financing of terrorism. I encourage all participants to engage deeply, share their experiences, and take full advantage of the expertise present here today.
“Let us move forward with renewed commitment, determination, and collaboration. Together, we can build a more secure Nigeria and a more resilient West Africa, free from the threat of terrorism,” the NFIU Boss stressed.
Also speaking, the Director General, Inter-governmental Action Group Against Money Laundering In West Africa (GIABA), Mr Edwin Harris expressed profound gratitude to the President Bola Tinubu, and the government of Nigeria for their unwavering commitment to the implementation of AML/CFT measures in the country.
He thanked the United Nations Office for Drugs and Crime for their valuable support in strengthening collaboration and cooperation with the GIABA Secretariat in delivering pertinent capacity building in the field of AML/CFT.
Mr Harris noted that the FATF Recommendations 5, 30, 31, and IO 9 focus on investigation and prosecution of terrorist financing, and Recommendations 4, 6, 8, and IO 10 aim at terrorist financing prevention and sanctions.
According to him, these Recommendations and Immediate Outcomes require each country to implement targeted financial sanctions regimes to comply with relevant United Nations Security Council resolutions (UNSCRs or resolutions) relating to preventing and suppressing terrorism and terrorist financing. The resolutions include (i) UNSCR 1267(1999) and its successor resolutions (the Al-Qaida/Taliban sanctions regimes), (ii) UNSCR 1373(2001), and (iii) any future UNSCRs that impose targeted financial sanctions in the terrorist financing context.
“These resolutions require countries to freeze, without delay, the funds or other assets of, and to ensure that no funds or other assets are made available, directly or indirectly, to or for the benefit of, any person or entity either (i) designated by, or under the authority of, the United Nations Security Council (the Security Council) under Chapter VII of the Charter of the United Nations, including in accordance with the Al-Qaida/Taliban sanctions regimes; or (ii) designated by that country or by a supra-national jurisdiction pursuant to UNSCR 1373. Such measures may be judicial or administrative in nature.
“The report of Nigeria’s second mutual evaluation revealed a low effectiveness level in implementing immediate outcomes 9 (terrorist financing investigations and prosecutions) and IO 10 (terrorist financing preventive measures and targeted financial sanctions),” he said.
He stressed that taking money away from terrorists will greatly prevent attacks and save lives.
“Let us not be shy about it; terrorists need money to be able to kill people. These are different motives, but the results are the same. The logical principle is quite simple: if terrorist have no money, they cannot: buy weapons buy components to build bombs, pay for transportation and logistics, pay for propaganda and recruit followers, remunerate fighters and maintain the group.
“Therefore, taking money from terrorists greatly prevents attacks and saves lives. By committing to implementing the FATF Recommendations, we save lives. GIABA and other sister institutions need your help because terrorists are very creative at finding money. To follow the money, we are aware of the several challenges,” he said.
