NFIU rejects ISWAP funding report by ECOWAS body

Nigeria‘s Financial Intelligence Unit (NFIU) rejected the ECOWAS body‘s report, claiming that ISWAP’s N8 billion funds were laundered through Nigeria’s formal financial system as false.

the Intergovernmental Task Force on Money Laundering in West Africa, GIABA, that the terrorist group, the Islamic State West African Province, ISWAP, moved annual revenues of Naira 18 billion through the Nigerian financial system to finance its activities.

In response to a statement made Monday by its chief media analyst, Ahmed Dikko, the NFIU said the story is “totally out of date and based on a 2019 country assessment report that today is literally outdated and irrelevant.”

The statement added that Nigerians’ funding efforts against terrorism have practically advanced since then.

“It is known to the international community, our population and formal media organizations that several arrests were made through the ongoing Broad Service Operation approved by President Muhammadu Buhari at the Defense Intelligence Agency, DIA.

The exercise continues and is far from over ”.

Furthermore, all financing of violence in all sectors of the country is evidently being analyzed and reported to all relevant authorities in accordance with the law.

It is true that Nigeria was recently a victim of illicit financial flows, but the government is making open and far-reaching efforts to stop the malpractice.

The ECOWAS body released its report to justify that Nigeria’s financial system undergoes an enhanced review process together with other Sahel countries.

“We had formally criticized the report to the ECOWAS body while agreeing to partner with them to carry out further review processes to jointly achieve global best practices in all countermeasures against local and cross-border violent crimes that disrupt all of Africa. western today.

“All of our neighbours have evidence of our terrorist financial intelligence sharing with them in real-time,” the statement said.