The Nigerian Financial Intelligence Unit (NFIU) has declared war on the financial lifelines of terrorists and other criminal organizations operating in the country.

At the GIABA workshop on investigating and prosecuting terrorism financing cases in Abuja on Tuesday, NFIU Director-General Hafsat Bakari emphasized the critical role of disrupting financial channels in weakening terrorists’ capabilities.

“Nigeria has faced an acute threat of terrorism for over a decade, particularly from groups like Boko Haram and the Islamic State West Africa Province,” Bakari stated. “These extremist organizations have destabilized communities, claimed innocent lives, and continue to threaten national security.”

Bakari stressed that cutting off financial support is essential to dismantling terrorist organizations. “Funds, supplies, and material assistance are central to terrorists’ ability to operate,” she said. “Disrupting their financial channels is crucial to weakening their functionality.”

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To achieve this, the NFIU plans to analyze transaction patterns, identify suspicious activities, and trace funds across borders.

Bakari noted, “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.”

However, Bakari acknowledged the complexity of financial investigations, emphasizing the need for specialized skills, inter-agency collaboration, and international coordination.

“Terrorism evolves, and typologies shift constantly. To keep track and disrupt them, we require deep and effective collaboration between agencies and international partners.”

The NFIU’s commitment to disrupting terrorist financing comes as Nigeria grapples with the ongoing threat of terrorism. By targeting the financial backbone of these organizations, the country aims to weaken their ability to carry out devastating attacks and ultimately dismantle their operations.

The post Nigerian govt vows to tackle terrorist financing appeared first on Latest Nigeria News | Top Stories from Naomisophyblog.

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