The National Security Adviser (NSA), Mallam Nuhu Ribadu, has stated that combating terrorism financing is as complex and challenging as direct combat operations against terrorism in Nigeria.
He made this assertion while opening a two-day seminar on Counterterrorism and Counterinsurgency organized by the Nigerian Army Resource Centre in collaboration with the Office of the National Security Adviser (ONSA) in Abuja.
Represented by the National Coordinator of the Counterterrorism Centre, Major General Adamu Garba Laka, the NSA highlighted the significant challenges Nigeria faces in tackling terrorism financing.
He noted that the evolving financial landscape and the adaptability of terrorist networks place financial institutions at the forefront of this battle.
The NSA stressed the importance of financial institutions adhering to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations and conducting regular assessments to ensure compliance.
He further emphasized the need for a risk-based approach targeting institutions more vulnerable to exploitation by terrorist financiers.
The seminar also featured a lecture by the Chief of Army Staff, Lieutenant General Taoreed Lagbaja, represented by Major General Emmanuel Emekah, who appraised over a decade of efforts against terrorism and insurgency in Nigeria.
He reviewed the nation’s strategies and challenges in addressing these security threats over the past 10 years.
The Director-General of the Nigerian Army Resource Centre, Major General Garba Wahab (Retd), highlighted that addressing terrorism financing is crucial at the strategic level of counterinsurgency.
He emphasized the need for agencies, including the Central Bank of Nigeria, to develop effective strategies to disrupt the financial flows that sustain terrorism and insurgency.
The event was attended by key stakeholders, including the Honourable Minister of Interior, Honorable Olubunmi Tunji Ojo, representatives of the Central Bank Governor, the Solicitor General of the Federation, representatives of the Nigeria Financial Intelligence Unit, the UN Office on Drugs and Crime (UNODC), and the Northern Nigeria Coordinator of the Global Initiative Against Transnational Organized Crime (GI-TOC).
Also present were senior military officers, commanders, and participants from various military and academic institutions, along with experts in counterterrorism and strategic studies.
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