The Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) joined lawyers, anti-money laundering crusaders, and academics in a public lecture in Abuja to discuss the challenges of money laundering and terrorism financing, particularly in developing countries like Nigeria. The Chairman of the EFCC, Ola Olukoyede, emphasized that these crimes are cross-border offenses that affect all countries. He highlighted the need for international cooperation and collaboration to combat these issues effectively. Olukoyede also acknowledged that money laundering and corruption are not limited to developing countries but are also prevalent in developed nations like the United States [0a6db2d3].
The Chief Executive Officer of the NFIU, Hafsat Abubakar, reaffirmed the unit's commitment to protecting Nigeria's financial system from abuse. She emphasized the importance of implementing robust anti-money laundering measures and strengthening the country's financial intelligence capabilities. Abubakar acknowledged the global nature of money laundering and terrorism financing and stressed the need for international cooperation to address these challenges effectively [0a6db2d3].
During the lecture, Dr. Sam Onyeka, a certified anti-money laundering expert, highlighted the ongoing impact of money laundering and terrorism financing in Nigeria. He emphasized the need for continuous efforts to raise awareness, improve detection mechanisms, and enhance law enforcement capabilities to combat these crimes effectively [0a6db2d3].
The public lecture was also attended by lawyers, academics, and other experts who discussed the challenges and implications of money laundering and terrorism financing in developing countries. They emphasized that these crimes pose a significant threat to national security and undermine financial systems globally. The Acting Vice-Chancellor of the University of Abuja, Prof Aisha Maikudi, declared that money laundering and terrorism financing are global challenges that require collective efforts to address effectively [0a6db2d3].