Nigerian Financial Intelligence Unit (NFIU) has disputed the Economic Community of West African States (ECOWAS) body report alleging that N18bn ISWAP fund was laundered through Nigeria’s formal financial system as untrue.
NFIU said the story is “totally outdated and was based on a 2019 country evaluation report which is literally stale and irrelevant today”.
It said in a statement yesterday by its chief media analyst, Ahmed Dikko, that Nigeria’s counter terrorists financing efforts have practically moved forward since then.
“It is to the knowledge of the international community, our populace and the formal media organisations that several arrests were made through the ongoing Operation Service Wide approved by President Muhammadu Buhari at the Defence Intelligence Agency (DIA). The exercise is continuing and far from over.”
In addition all funding of violence from all sections of the country are being evidently analysed and reported to all relevant authorities according to law.
It’s true that recently Nigeria fell victim to illicit financial flows but overt and far-reaching efforts are being executed by the government to stem the bad practice.
The ECOWAS body released its report to justify putting Nigeria’s financial system under enhanced review process alongside other countries in the Sahel.
“We had formally faulted the report to the ECOWAS body while agreeing to partner with them to carry out further review processes to jointly attain global best practices on all counter measures against local and cross border violent crimes disturbing the entire West Africa presently.
“All our neighbours have proofs of our exchange of terrorist financial intelligence with them real time,” the statement said.