The Nigeria Police Force (NPF) is intensifying efforts towards removing the country from the Financial Action Task Force (FATF) grey list.
Force Public Relations Officer, ACP Olumuyiwa Adejobi, disclosed this in a statement on Tuesday.
Adejobi recalled that in February 2023, Nigeria was placed on the FATF grey list, designating it as a high-risk jurisdiction for money laundering and terrorism financing.
He explained that in response to this critical situation, the Force established specialized units such as the Special Anti-Fraud Unit (SFU), the National Cybercrime Centre, and the newly launched Anti-Money Laundering Unit, to collectively enhance Nigeria’s compliance with international standards and facilitate the country’s removal from the FATF grey list.
“Over the past year, these specialized units have made significant strides in combating financial crimes, resulting in the arrest of 1,088 suspects, securing 152 convictions, and recovering a total of $11,450,000 and ₦142,261,254,228.80.
“The National Cybercrime Centre, in particular, has been pivotal in addressing digital financial crimes, leading to the arrest of 751 cybercrime suspects and extensive recoveries amounting to ₦8,821,001,881.80, $84,000, and 115,237.91 USDT.
“A notable achievement includes Operation Butterfly Net, addressing a cyberattack on Flutterwave, which led to the arrest of 179 individuals involved in laundering over ₦11 billion.
“In addition to the proactive efforts of the NPF, the establishment of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Sections has bolstered the framework surrounding financial investigations.
“The training of over 2,000 officers across various units in money laundering and terrorism financing investigations is reflective of the Force’s commitment to improving Nigeria’s global standing in combating financial crimes,” he said.
The Force PRO said, with the submission of quarterly AML/CFT reports to the Nigerian Financial Intelligence Unit (NFIU), Nigeria’s ratings within the FATF regime have also significantly improved, indicating the effectiveness of these initiatives.
He said moving forward, the Force remains resolute in its commitment to combating money laundering and terrorism financing, ensuring that Nigeria meets international requirements set by the FATF.
He, therefore, urged all relevant Ministries, Departments, and Agencies (MDAs) of government to collaborate in this critical effort of lifting Nigeria from the FATF grey list.
Adejobi said “while the fight against financial crime is far from over, the progress made by the Force in investigations, arrests, and prosecutions demonstrates the determination to protect the integrity of Nigeria’s financial system and restore trust in our financial institutions.”
He assured the public and the international community that the Nigeria Police is taking all necessary steps to combat money laundering and terrorism financing.