AGF Calls for Coordinated Action Against Terrorism Financing and Money Laundering
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has issued a strong appeal for a coordinated, informed, and proactive response from all stakeholders to combat the escalating threats of money laundering and terrorism financing. Speaking at a media outreach and advocacy program organized by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Fagbemi expressed deep concerns that these crimes not only jeopardize the economic stability of the West African sub-region but also undermine institutional credibility and endanger citizen safety.
Complex and Evolving Threats Require Unified Response
According to Fagbemi, the transnational and constantly evolving nature of money laundering and terrorism financing demands a collective effort. He declared the program open, noting that Nigeria has significantly strengthened its Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework through legislative reforms, regional and international collaborations, and enhanced inter-agency partnerships. However, he stressed that beyond laws and enforcement mechanisms, public awareness and understanding are indispensable in winning this fight.
"We must collectively work to demystify technical concepts, expose illicit financial activities, and promote a culture of transparency and accountability. When the public is well-informed, it becomes more difficult for criminal networks to operate undetected," Fagbemi emphasized.
Media's Critical Role in Anti-Graft Efforts
In his welcome address, the Director General of GIABA, Mr. Edwin W. Harris Jr., represented by Country Director Timothy Melaye, charged the media to avoid compromise and deepen narratives in identifying and exposing money laundering. He highlighted that the anti-graft war cannot be effective without the active involvement of the media, which has the dual capacity to educate the public and investigate financial crimes.
"The media must not allow itself to be used by suspected money launderers and looters of public treasury to truncate the course of justice," Harris stated, adding that GIABA also interacts with and builds the capacity of other stakeholders, including law enforcement agencies, the judiciary, financial institutions, and civil society organizations. "All hands must be on deck for us to achieve the desired outcomes," he concluded.
Technology's Dual Role in Financial Crime
The Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, highlighted the role of technology in facilitating money laundering, noting that illicit funds often fuel organized crime, corruption, trafficking networks, and violent extremism. She warned that when these financial flows go unnoticed, they weaken institutions, distort economies, and threaten national stability.
Bakari commended GIABA for recognizing that the effectiveness of AML/CFT frameworks depends not only on laws and enforcement but also on public understanding and civic vigilance. "This understanding cannot develop without a knowledgeable and engaged media community. That is why today’s programme is about building a network of journalists who understand financial crime issues, can report them accurately, and help amplify the message that illicit finance harms societies at every level," she explained.
ICPC Chairman on Destabilizing Threats
In a goodwill message, the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (SAN), described money laundering and terrorist financing as destabilizing threats to economic systems, national security, and democratic institutions. He noted that these crimes erode public trust, undermine governance, distort markets, and deprive citizens of resources for sustainable development.
Aliyu pointed out that the advent of the internet, social media, and Artificial Intelligence (AI) has dramatically altered the financial crime landscape, enabling criminals to launder proceeds across jurisdictions with ease. "The speed and anonymity that digital technologies afford have made detection far more challenging and the stakes considerably higher," he said, while commending NFIU for deploying advanced analytics, AI, and real-time transaction monitoring systems to detect suspicious financial flows with greater precision.
He emphasized that the media is a cornerstone of democratic governance and a powerful check on abuse of power, urging that its capacity to shape societal norms be strategically harnessed to ingrain anti-corruption ideals and financial integrity values from an early age.
GIABA's Mandate and Regional Efforts
GIABA was established in 2000 by the ECOWAS Authority of Heads of State and Government with the mandate to protect member states' economies from money laundering and combat terrorism financing. It works to ensure compliance with international AML/CFT standards, reflecting the urgent need for a whole-of-society response to these interconnected crimes in West Africa.
