Nigeria urges ECOWAS to unite against terrorism financing

The federal government has urged member states of the Economic Community of West African States (ECOWAS) to unite in the fight against terrorism financing in the region. The call comes amidst the global recognition of terrorism as a significant threat to peace and security. Hafsat Abubakar, Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), emphasised […]

The federal government has urged member states of the Economic Community of West African States (ECOWAS) to unite in the fight against terrorism financing in the region.

The call comes amidst the global recognition of terrorism as a significant threat to peace and security.

Hafsat Abubakar, Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), emphasised this during the opening of a Train-the-Trainers (ToT) workshop on Countering the Financing of Terrorism (CFT) for ECOWAS anglophone member states yesterday in Abuja.

She highlighted the insidious nature of terrorism, stating that it not only endangers lives but also undermines societal and economic foundations.

Abubakar stressed the importance of regional cooperation in blocking the channels used to fund terrorist activities.

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She underscored the role of various stakeholders, including military, intelligence services, law enforcement agencies, prosecutors, and the judiciary in this collective effort.

“This ToT serves as a pivotal platform for us to enhance our understanding of the evolving tactics employed by terrorist organisations to fund their operations.

“Through collaborative efforts and the exchange of best practices, we aim to strengthen our capacity to detect, disrupt, and dismantle the financial networks that enable terrorism to thrive,” Abubakar said.

The training aims to equip participants with the necessary knowledge and skills to effectively combat terrorism financing.

She expressed satisfaction with Nigeria’s level of participation in the training.

In the same vein, the Director General of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Edwin W. Harris Jr., highlighted the adverse impact of money laundering and terrorism financing on socio-economic development and regional security.

He stressed GIABA’s commitment to supporting countries in aligning their prevention and enforcement systems with international standards.

In his keynote address, the Director General of the Department of State Services (DSS), Yusuf Magaji Bichi, represented by the Director of Training and Staff Development, DSS, Mrs. Bolatito Sure-Olufe, stressed the importance of international cooperation in countering terrorism financing.

He emphasised the workshop’s role in enhancing the collective capacity to identify, trace, and disrupt illicit financial flows sustaining terrorist organizations.

The two-week workshop, attended by participants from English-speaking ECOWAS countries, signifies a concerted regional effort to address the challenges posed by terrorism financing and promote peace and security in West Africa.