The Federal Government has revealed that it has apprehended more than N45 billion that was unlawfully taken from the public coffers.
Additionally, the government has named and identified a number of people and organisations connected to terrorist activity.
Additionally, the Tinubu-led administration has acknowledged that money linked to these people has been seized.
At the State House in Abuja, during the 40th Technical Commission/Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, disclosed this information.
According to Fagbemi, only these three agencies alone employ almost 1,500 officers devoted to the investigation and prosecution of money laundering.
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Since 2021, there has been a constant growth in the number of investigations, prosecutions, and convictions as a result of this persistent investment. As a result, almost 45 billion naira worth of illicit proceeds have been confiscated through 5,118 investigations, 1,509 prosecutions, and nearly 500 convictions.
“We have made success in combating the financing of terrorism as well. I am especially happy that we have recognised and labelled some people and organisations associated with terrorist activities and that funds associated with them have been seized.
“Since its enabling law was passed in 2018, the Nigerian Financial Intelligence Unit (NFIU) has become an international model and has accomplished the goals set forth in the legislation, establishing it as an independent and autonomous unit.
“The Unit’s access to and ability to share financial intelligence with other appropriate agencies has been greatly increased.
“In addition, the Unit implemented several cutting-edge technologies, such as the Crime Records Information Management System (CRIMS), which completely changed the way we share intelligence.”
