THUR 03 FEB, 2022-theGBJournal- The Minister of Information and Culture, AlHAJI Lai Mohammed said Thursday the Nigerian Financial Intelligence Unit (NFIU), in 2020-2021, revealed 96 financiers of terrorism in Nigeria, 424 associates/supporters of the financiers, involvement of about 123 companies and 33 bureaux de change, in addition to identifying 26 suspected bandits/kidnappers and 7 co-conspirators.’
The Minister provided the insight during a press briefing in Abuja, Nigeria on President Muhammadu Buhari administration’s fight against corruption.
However, the Minister did not provide names or types terror financed. The names of the associates and supporters of the financiers as well as the companies and bureaux de Change was also held back, but the revelation confirms the involvement some prominent Nigerians and organisations in the act of terrorism against the citizens and the country in general.
Lai Mohammed said he analysis of the NFIU has resulted in the arrest of 45 suspects who will soon face prosecution and seizure of assets.
‘’Also, from its analysis of tax evasion and tax avoidance linked to corruption, NFIU has identified N3,909,707,678,112.43 in VAT and N3,737,918,335,785.82 in Withholding Tax due to the Government,’’ the Minister said.
He said the NFIU has also sent 1,165 intelligence reports on cases of corruption, money laundering and other serious offences to 27 domestic agencies for investigation, prosecution and asset recovery.
On terrorism financing, NFIU had intelligence exchanges on Boko Haram, ISWAP, banditry, kidnapping and others with 19 countries.
‘’During the same period, 2020-2021, the organization returned fraudulently-obtained funds totalling US$103,722,102.83, 3,000 Pound Sterling; 7,695 Singapore Dollar and 1,091 Euros to 11 countries of victims who came into the country.’’
To check terrorism financing in Nigeria, the Federal Government has deployed a plethora of tools, including the Money Laundering Act, 2004, the EFCC Act, 2004, the ICPC Act, 2000, Department of State Services (DSS) and the Nigerian Financial Intelligence Unit (NFIU) to deal with the issue of corruption, money laundering and terror financing.
The ongoing harmonization of Bank Verification Numbers (BVN) with National Identification Numbers (NIN) is also a means of tracking the flow of funds within Nigeria and, by extension, tackling terror financing.
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