The Nigerian Financial Intelligence Unit (NFIU) has announced plans to establish a Nigerian chapter of the global Women in Anti-Money Laundering (WAML) Network, a move aimed at promoting gender inclusion and enhancing expertise in combating financial crimes.
NFIU Leads Initiative to Empower Women in Financial Crime Fight
The decision was disclosed by the NFIU’s Chief Executive Officer, Modibbo Hamman Tukur, during a meeting with the leadership of the WAML Network in Abuja. According to Tukur, the Nigerian branch will serve as a platform for women professionals in anti-money laundering, counter-terrorism financing, and related fields to collaborate, share knowledge, and advance their careers.
“The establishment of this chapter underscores our commitment to gender equality and the empowerment of women in the financial intelligence sector,” Tukur said. “It will also strengthen Nigeria’s capacity to combat money laundering and terrorist financing by leveraging the expertise of women professionals.”
Global Network Expands to Nigeria
The WAML Network is an international organization that supports women working in anti-money laundering (AML) and counter-financing of terrorism (CFT) roles. It provides mentorship, training, and networking opportunities to help women advance in what has traditionally been a male-dominated field. The Nigerian chapter will be the first in West Africa, according to NFIU officials.
The NFIU, which is Nigeria’s central agency for receiving, analyzing, and disseminating financial intelligence, has been at the forefront of efforts to combat illicit financial flows. The agency’s partnership with the WAML Network is expected to enhance its operational effectiveness by tapping into a broader pool of talent and expertise.
Nigeria’s Fight Against Money Laundering Gets a Boost
Nigeria has faced significant challenges in tackling money laundering and terrorist financing, with the country being placed on the Financial Action Task Force (FATF) grey list in 2023. The establishment of the WAML chapter is part of broader reforms to address these deficiencies and strengthen the country’s AML/CFT framework.
“Women bring unique perspectives and skills to the fight against financial crimes,” said a representative of the WAML Network during the meeting. “By establishing a chapter in Nigeria, we are not only promoting gender diversity but also enhancing the effectiveness of AML efforts in the region.”
The NFIU has also committed to providing logistical support for the chapter’s activities, including training workshops and conferences. The move aligns with the NFIU’s strategic plan to improve financial intelligence gathering and analysis through capacity building and international cooperation.
The Nigerian chapter is expected to be officially launched within the next six months, with plans to recruit members from both the public and private sectors. The NFIU has called on all women professionals in the AML/CFT field to join the network and contribute to the fight against financial crimes.
