Posted by The government has come clean about recovering more than N45 billion that had been stolen from the national treasury.
The government has also named and shamed a number of people and organizations for their ties to terrorism.
It has been confirmed by the Tinubu-led government that any funds linked to these people have been frozen.
At the 40th Technical Commission/Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), which took place at the State House in Abuja, the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, made this announcement.
As Fagbemi put it,
“We now have over 1,500 personnel committed to detecting and prosecuting money laundering across these three agencies alone.
Since 2021, “this sustained investment has led to increased numbers of investigations, prosecutions, and convictions,” and as a result, more than 45 billion naira in illicit gains have been confiscated.
I am very delighted that we have discovered and designated a number of individuals and businesses related to terrorist activity and recovered funds linked to them as part of our efforts to combat the funding of terrorism.
Since its enabling law was passed in 2018, which made it an independent, self-governing body, the Nigerian Financial Intelligence Entity (NFIU) has become a model around the world and reached the goals its founders set out to achieve.
The financial information that the unit has access to and shares with other authorities has greatly increased.
The Crime Records Information Management System (CRIMS) is only one example of the cutting-edge technology implemented by the unit; it has completely revolutionized the way we share intelligence.