President Bola Tinubu has revealed that over 100 individuals financing terrorism in Nigeria have been convicted over the past two years, as part of his administration’s intensified efforts to dismantle the financial networks of terror groups.
Speaking on Tuesday at the 2025 National Anti-Money Laundering, Counter-Financing of Terrorism, and Proliferation (AML/CFT/CPF) Summit in Abuja, Tinubu, represented by the Secretary to the Government of the Federation, George Akume, emphasized the government’s commitment to preventing terrorists from threatening citizens and communities.
“We have made progress to tackle the threats of terrorism and other violent crimes through the gallant actions of our frontline troops and security agencies,” Tinubu said.
“In line with the National Counter-Terrorist Financing Strategy, we have also enhanced our abilities to identify and pursue those individuals that finance these violent acts.
“Through the efforts of the Office of the National Security Adviser and the Honourable Attorney-General of the Federation, we have prosecuted and convicted over 100 terrorist financiers in the last two years.”
The President underscored the importance of cutting off the resources and material support that fuel the operations of groups like Boko Haram and the Islamic State West Africa Province (ISWAP), noting that this approach creates a safer environment for rural communities to thrive.
Tinubu further acknowledged the pivotal role played by private sector professionals, including bankers, capital market operators, lawyers, and accountants, in combating money laundering and terrorist financing.
“As gatekeepers, our banks, capital market firms, lawyers, and accountants are the first line of defense in our joint effort to protect our commonwealth,” he stated.
Addressing Nigeria’s greylisting by the Financial Action Task Force (FATF) in February 2023, Tinubu highlighted the serious economic and reputational consequences of the designation.
He assured stakeholders that the government is committed to implementing an action plan to address the identified deficiencies in the nation’s anti-money laundering framework.
“The listing of Nigeria has grave consequences for our economy and the reputational damage is one that we must all take very seriously,” Tinubu noted.
He commended the leadership of the Attorney-General of the Federation, the Minister of Finance, and the Minister of Interior for their roles in coordinating efforts to address the issue through the Nigerian Financial Intelligence Unit (NFIU).
The Chief Executive Officer of the NFIU, Hafsat Bakari, reiterated the importance of collective action in the fight against financial crimes.
“This is not a fight any single entity can win alone,” Bakari said.
She said “it requires the collective strength and commitment of our political leaders, regulators, financial institutions, law enforcement and security agencies, and international partners.
“Collaboration must be at the heart of our approach if we are to succeed in mitigating risks and safeguarding our financial system.”
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