President Bola Ahmed Tinubu on Tuesday announced that over 100 terrorism financiers have been prosecuted and convicted in the last two years.
Speaking at the opening of the 2025 National Anti-Money Laundering, Counter-Financing of Terrorism and Proliferation (AML/CFT/CPF) Summit in Abuja, Tinubu, represented by Secretary to the Government of the Federation (SGF), George Akume, credited the Office of the National Security Adviser and that of the Attorney-General of the Federation for the success.
The President stated that the government’s strategy of targeting the financial backbones of terror organisations like Boko Haram and Islamic State West Africa Province (ISWAP) also accounted for the feat.
According to him: “By taking away the funds and resources behind these groups, we are denying them the ability to terrorise our communities. This approach aligns with global best practices in combating serious crime.”
But President Tinubu was silent on the names, crimes, roles and possible jail terms of the over 100 convicted terrorism financiers
He listed his administration’s anti-crime efforts in disrupting criminal financial networks to include the National Anti-Money Laundering and Counter-Terror Financing Strategy, National Anti-Corruption Strategy, and the National Drug Control Master Plan.
The President noted that these strategies focus on combating crimes that harm Nigeria’s global reputation and hinder citizens’ ability to conduct business internationally.
He also said that his administration has also invested heavily in the upgrade of the capacity of law enforcement agencies like the Nigeria Police, Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), and the National Drug Law Enforcement Agency (NDLEA).
These efforts, said Tinubu, has led to a more effective crackdown on organised crime networks.
The summit highlighted the critical role of the private sector in combating financial crimes.
Financial institutions, capital market firms, lawyers, and accountants serve as the first line of defence.
Tinubu said that “an efficient private sector is crucial to Nigeria’s ambition of becoming a middle-income country.”
He consequently called for regulatory predictability and efficiency.
The President added that efforts by regulatory agencies like the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the National Insurance Commission, have strengthened financial supervision.
He also noted that the Special Control Unit Against Money Laundering in the EFCC has worked to ensure compliance across financial and non-financial businesses.
