The National Security Adviser (NSA), Mallam Nuhu Ribadu, has emphasized that combating terrorism financing poses a complex and formidable challenge, comparable to the difficulties faced in military and law enforcement operations against terrorism in Nigeria.
Ribadu, who spoke while declaring open a two-day seminar on Counterterrorism and Counterinsurgency at Hall F, Martin Luther Agwai Block, Nigerian Army Resource Centre, Abuja on Thursday, emphasized that financial institutions plays crucial roles in countering terrorism financing by adhering to regulatory frameworks, such as anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, and by conducting regular assessments and audits to ensure compliance.
The seminar was organized by the Nigerian Army Resource Centre, Abuja in collaboration with the Office of the National Security Adviser (ONSA).
Represented by the National Coordinator of the Counterterrorism Centre, Major General Adamu Garba Laka, the NSA highlighted that “Nigeria, like other nations, faces significant challenges in this area.”
He noted that the complexity of the financial landscape, combined with the adaptability of terrorist networks, places financial institutions on the frontline of this battle.
A risk-based approach focusing on institutions more susceptible to exploitation for terrorism financing is also essential, he added.
Chief of Army Staff (COAS), Lieutenant General Taoreed Lagbaja, represented by Major General Emmanuel Emekah, delivered a lecture titled “Over a Decade of Terrorism, Insurgency, and Counterinsurgency in Nigeria: An Appraisal” where he reviewed the efforts of the past 10 years in confronting the twin scourge of terrorism and insurgency in the country.
Earlier, the Director-General of the Nigerian Army Resource Centre, Major General Garba Wahab (rtd), remarked that “the strategic level of counterinsurgency involves agencies and organizations addressing terrorism financing, a major issue that sustains terrorism and insurgency. If we can trace and stop the financing, we can solve the problem.”
He urged organizations like the Central Bank of Nigeria to find ways to tackle these challenges.
The event was attended by Minister of Interior, Olubunmi Tunji Ojo, representatives of the Central Bank Governor, the Solicitor General of the Federation and Permanent Secretary Federal Ministry of Justice, representatives of the Nigeria Financial Intelligence Unit, the UN Office on Drugs and Crime (UNODC), and the Northern Nigeria Coordinator of the Global Initiative Against Transnational Organized Crime (GI-TOC).
Also present were various commanders, commandants of military formations and training institutions and heads of various military establishments, senior officers both serving and retired, distinguished members of academia, senior research fellows, directors, consultants, subject matter experts, and participants of the Leadership and Strategic Studies Course 2/2023 of the Nigerian Army Resource Centre, among others.