Effective Counter-Terrorism efforts Includes Disrupting Financial Lifeline of Terrorists Groups - General Laka

Nigeria has recorded commendable progress under the Financial Action Task Force International Cooperation Review Group Action Plan, in the areas of technical compliance, operational effectiveness, and the multi-agency coordination. 

The National Coordinator National Counter Terrorism Centre!(NCTC), Office of the National Security Adviser (ONSA), Major General Adamu Laka stated this on Monday 21st July, while addressing the On-Site meeting of the Financial Action Task Force International Cooperation Review Group, at the National Counter Terrorism Centre, Abuja. 

The mating aims to assess Nigeria's efforts to adequately address money laundering and terrorism-Financing. 

Major General Laka, emphasised that disrupting the financial lifeline that enables terrorist groups to plan, recruit, and operate is central to the counterterrorism efforts in Nigeria. 

"This is why we remain firmly committed to this cause and continue to maintain a strong partnership with the NFIU and other relevant agencies. Through this collaboration, we have significantly reduced access to illicit funds by terror networks"

"This exercise represents a pivotal milestone in our collective journey to secure Nigeria's exit from the Financial Action Task Force gray list, offering a final opportunity to test our level of preparedness and harmonize institutional response before the Financial Action Task Force on-site assessment visit" 

He further Affirms the National Counterterrorism Center's strong commitment to interagency cooperation in the fight against terrorism financing and other illicit financial flows by enhancing financial systems, integrating integrity, and protecting national and regional security. 

The participants at the meeting are drawn from the Nigeria Financial Intelligence Unit (NFIU), public institutions, law enforcement agencies, regulatory bodies, and the private sector. 

The Chief Executive Officer and Director-General, Nigerian Financial Intelligence Unit, Hadjia Hafsat Bakari said, the on-site assessment team visit is an opportunity for Nigeria to demonstrate the progress made in its enduring commitment to an effective Anti-Money Laundering and Countering the Financing of Terrorism (MLCFT CPA) framework. 

According to Hajiya Bakari, the assessment exercise is important to Nigeria which will host 11 reviewers covering all the immediate outcomes in the country's action plan very soon. 

"And considering the difficulty the FATF has previously had in finding reviewers to come to some of the countries in Africa, this is indeed quite a sign of confidence in Nigeria"

"I'm also delighted to inform you that as a recognition of the excellent work we have done and our regional and global leadership, the FATF has invited Nigeria to join its guest member initiative. This essentially means that Nigeria will participate under our own flag in the discussions and projects of the FATF for the next year"

"While this does not mean we're a full member, it is nonetheless a further step on our journey to having a seat at the table and reaffirmation that we are on the right track"

She said the next four days of the ongoing exercise give the team an opportunity to critically examine all areas of required coverage ahead of the assessment team visit.