The Traffic

Nigeria Pushes for Grey List Exit with 730 Terrorism Convictions, FATF Reviews Progress

In a significant step towards exiting the Financial Action Task Force (FATF) grey list, the Nigerian government has secured over 730 terrorism-related convictions, signaling a renewed commitment to dismantling terror financing networks.

The National Counter Terrorism Centre (NCTC), led by Maj. Gen. Adamu Laka, announced the achievement during an on-site FATF inspection in Abuja on Monday. He said that more than 90 convictions were made possible through direct support from the Nigeria Financial Intelligence Unit (NFIU), highlighting robust inter-agency collaboration.

“Disrupting terrorist financial lifelines is central to our national strategy,” Laka emphasized. “Our joint efforts are yielding results.”

The NCTC also praised the Joint Standard Investigation Committee on Terrorism Financing for its crucial role in handling complex financial crime investigations. A simulation exercise was conducted as part of Nigeria’s institutional readiness ahead of the official FATF evaluation visit.

Meanwhile, NFIU CEO Hajiya Hafsat Bakari confirmed that Nigeria has made notable progress on all 19 FATF action items. She noted that Nigeria’s leadership in financial intelligence has earned it an invitation to participate in FATF projects as a guest member.

“The world is watching, and the confidence shown by the FATF in sending 11 reviewers to Nigeria is a strong vote of trust,” she added.

Nigeria’s successful exit from the FATF grey list could enhance its global financial reputation and investor confidence.

By Haruna Yakubu Haruna