Nigeria Makes Progress in Counterterrorism Efforts, Set to Test Preparedness for Financial Action Task Force Assessment

Strategic Insights -

The National Coordinator of the National Counter Terrorism Centre, Major General Adamu Laka, emphasized that disrupting the financial lifeline of terrorist groups is crucial to Nigeria's counterterrorism efforts. According to General Laka, the country has made commendable progress in addressing money laundering and terrorism financing, as recognized by the Financial Action Task Force International Cooperation Review Group. The meeting, taking place at the National Counter Terrorism Centre in Abuja, aims to assess Nigeria's efforts in adequately addressing these issues. Participants from various institutions, including the Nigeria Financial Intelligence Unit, public institutions, law enforcement agencies, regulatory bodies, and the private sector, are in attendance.

Key Takeaways:

  • Nigeria has recorded notable progress in technical compliance, operational effectiveness, and multi-agency coordination under the Financial Action Task Force International Cooperation Review Group Action Plan.
  • The country's efforts have been recognized in a face-to-face engagement in Dar es Salaam in April 2025, following the presentation of Nigeria's sixth progress report.
  • The National Counterterrorism Center remains committed to interagency cooperation in the fight against terrorism financing and other illicit financial flows.
  • The Nigerian Financial Intelligence Unit has been praised for its excellent work, earning the country an invitation to join the Financial Action Task Force's guest member initiative.
  • Nigeria will participate in the discussions and projects of the Financial Action Task Force for the next year under its own flag.

Statistics:

  • Nigeria has recorded commendable progress in addressing money laundering and terrorism financing, as recognized by the Financial Action Task Force International Cooperation Review Group.
  • The country has achieved notable success in technical compliance, operational effectiveness, and multi-agency coordination under the Financial Action Task Force International Cooperation Review Group Action Plan.
  • Nigeria has 11 reviewers covering all the immediate outcomes in its action plan.
  • The country's Financial Intelligence Unit has been specially recognized for its excellent work, earning an invitation to join the Financial Action Task Force's guest member initiative.

Sources:

  • (Voice of Nigeria) 21 July 2025
  • (Office of the National Security Adviser) 21 July 2025