• Call for collaboration to exit FATF grey list
In February 2023, Nigeria was added to the Financial Action Task Force (FATF) grey list, flagging the country as high-risk for money laundering and terrorism financing.
In response, the Nigeria Police Force (NPF) has intensified efforts to address these challenges, establishing specialized units such as the Special Anti-Fraud Unit (SFU), the National Cybercrime Centre, and the Anti-Money Laundering Unit.
According to Force Public Relations Officer Force Headquarters, Abuja ACP Olumuyiwa Adejobi, these units have recorded significant achievements over the past year, including the arrest of 1,088 suspects, 152 convictions, and recoveries totaling $11.45 million and ₦142.26 billion.
The National Cybercrime Centre has been particularly effective, apprehending 751 cybercrime suspects and recovering ₦8.82 billion, $84,000, and 115,237.91 USDT.
One key operation, Butterfly Net, disrupted a cyberattack on Flutterwave, resulting in 179 arrests connected to laundering over ₦11 billion.
Additionally, the newly established Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Sections have enhanced investigative capabilities, with over 2,000 officers trained in financial crime detection.
Quarterly AML/CFT reports submitted to the Nigerian Financial Intelligence Unit (NFIU) have led to improved FATF compliance ratings.
The NPF is calling on all ministries, departments, and agencies (MDAs) to support this national effort to meet FATF standards and remove Nigeria from the grey list.
While challenges remain, the progress demonstrates Nigeria’s commitment to protecting its financial system and restoring international trust.
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