By Chimezie Godfrey
Nigeria has received international recognition for its efforts in combating financial crimes as the collaboration between the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) earned the prestigious UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award.
The award was presented during the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units held in Baku, Azerbaijan, where financial intelligence leaders from more than 186 countries gathered to deliberate on emerging threats and global responses to financial crimes.
According to the NFIU, the award recognises outstanding cases that demonstrate innovation, effective international cooperation, operational excellence and measurable impact in tackling money laundering and other serious financial crimes.
The award-winning case showcased how timely financial intelligence generated by the NFIU, combined with the EFCC’s investigation, contributed to successful asset recovery and strengthened the pursuit of justice through effective inter-agency collaboration.
Reacting to the development, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the recognition as a proud moment for Nigeria and a validation of the country’s growing capacity in financial intelligence and anti-money laundering efforts.
”This recognition by the Egmont Group is a proud moment for Nigeria and a powerful affirmation of the quality, professionalism and impact of our financial intelligence architecture. The Stolen Asset Recovery (StAR) Initiative Award demonstrates what is possible when intelligence is effectively analysed, securely shared and transformed into operational outcomes that disrupt illicit financial networks and recover assets for the public good,” Bakari said.
She added that the recognition reflected Nigeria’s contribution to global efforts against money laundering, terrorism financing and other serious financial crimes.
Bakari also commended the Executive Chairman of the EFCC, Ola Olukoyede, and officers of the commission for their commitment to inter-agency collaboration.
”I wish to particularly commend the Executive Chairman of the EFCC, Mr. Ola Olukoyede, and the dedicated officers of the EFCC for their unwavering commitment to collaboration and excellence. This award affirms the strength of inter-agency cooperation in Nigeria and demonstrates what institutions can achieve when they work together with a shared purpose,” she said.
The NFIU chief further congratulated the staff of the agency and reporting entities whose timely financial reports continue to support intelligence gathering and analysis.
The Egmont Group serves as the global platform for cooperation among Financial Intelligence Units, promoting the secure exchange of financial intelligence to combat money laundering, terrorism financing and related financial crimes.
According to the NFIU, the latest recognition comes as Nigeria continues to implement reforms aimed at strengthening the integrity of its financial system and improving compliance with international anti-money laundering and counter-terrorism financing standards.
The agency said the award also acknowledges the contributions of law enforcement agencies, prosecutors, regulators, reporting entities and international partners whose collaboration remains crucial in investigating complex cross-border financial crimes.
Bakari noted that the recognition would further strengthen Nigeria’s resolve to invest in intelligence-led investigations and deepen cooperation with both domestic and international partners.
She said the award was not only a celebration of Nigeria’s achievements but also a reminder of the responsibility to sustain efforts aimed at protecting the integrity of the global financial system.
The NFIU reaffirmed its commitment to working with the EFCC and other stakeholders to strengthen the country’s anti-money laundering framework and enhance Nigeria’s role in the global fight against illicit financial flows.
NFIU, EFCC collaboration earns global anti-money laundering award
