EFCC, NFIU collaboration earns Nigeria global recognition

Nigeria has received global recognition for its efforts in combating financial crimes, with the collaboration between the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) earning one of the highest honours in the international financial intelligence community.

The country won the UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units (FIUs) held in Baku, Azerbaijan.

The award recognises outstanding cases that demonstrate innovation, international cooperation, operational effectiveness and measurable impact in the fight against money laundering and other financial crimes.

According to the NFIU, the award-winning case showcased how timely financial intelligence, professional analysis and strong collaboration between the NFIU and the EFCC led to successful investigations, asset recovery and the pursuit of justice.

Reacting to the recognition, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the award as a proud moment for Nigeria and a validation of the country’s financial intelligence system.

“This recognition by the Egmont Group affirms the quality, professionalism and impact of our financial intelligence architecture. It demonstrates what is possible when intelligence is effectively analysed, securely shared and translated into operational outcomes that disrupt illicit financial networks and recover assets for the public good,” she said.

Bakari commended the Executive Chairman of the EFCC, Ola Olukoyede, and the commission’s officers for their commitment to inter-agency collaboration, saying the award reflects the strength of the partnership between the two institutions.

She also congratulated NFIU staff, reporting entities and other stakeholders for supporting the agency with timely financial reports.

The Egmont Group is the global network of Financial Intelligence Units that promotes secure intelligence sharing and international cooperation against money laundering, terrorism financing and related financial crimes.

The NFIU said the recognition reflects growing international confidence in Nigeria’s ability to generate high-quality financial intelligence and convert it into successful enforcement outcomes, while reinforcing the country’s commitment to strengthening collaboration and intelligence-led approaches in tackling increasingly complex financial crimes.

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