Police Seek Collaboration to Remove Nigeria from Money Laundering List
The Nigeria Police Force has called for support from Ministries, Department and Agencies (MDAs) to remove Nigeria from the list of countries designated as high-risk jurisdictions for money laundering and terrorism financing.
The Force Public Relations Officer, ACP Olumuyiwa Adejobi made the call in a statement on Tuesday in Abuja.
He said the Financial Action Task Force (FATF) had in February, 2023, placed Nigeria on the grey list, designating the country as a high-risk jurisdiction for money laundering and terrorism financing.
“In response to this critical situation, the Nigeria Police Force has been actively tackling these issues through the establishment of specialised units.
“The units established in this regard are the Special Anti-Fraud Unit (SFU), the National Cybercrime Centre and the newly launched Anti-Money Laundering Unit.
“Collectively, these initiatives are to enhance Nigeria’s compliance with international standards and facilitate the country’s removal from the FATF grey list,” he said.
According to him, over the past year, these specialised units have made significant strides in combating financial crimes, resulting in the arrest of 1,088 suspects and securing 152 convictions.
He said a total 11,450,000 dollars and N142.2 billion was recovered over the past year.
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“The National Cybercrime Centre, in particular, has been pivotal in addressing digital financial crimes, leading to the arrest of 751 cybercrime suspects and extensive recoveries amounting to billions of money.
“A notable achievement includes Operation Butterfly Net, addressing a cyber-attack on Flutterwave, which led to the arrest of 179 individuals involved in laundering over ₦11 billion,” he said.
Adejobi said the establishment of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Sections has bolstered the framework surrounding financial investigations.
He said the training of over 2,000 officers across various units in money laundering and terrorism financing investigations was reflective of the force’s commitment to improving Nigeria’s global standing in combating financial crimes.
According to him, with the submission of quarterly AML/CFT reports to the Nigerian Financial Intelligence Unit (NFIU), Nigeria’s ratings within the FATF regime have also significantly improved, indicating the effectiveness of these initiatives.
He pledged that the force would remain resolute in its efforts to combat money laundering and terrorism financing to ensure that Nigeria meets international requirements set by the FATF.
“We urge all relevant Ministries, Departments and Agencies (MDAs) to collaborate in this critical effort of lifting Nigeria from the FATF grey list.
“While the fight against financial crime is far from over, the progress made by the police in investigations, arrests and prosecutions demonstrate its determination to protect the integrity of Nigeria’s financial system,” he said.
