By Nana Musa
Nigeria has won the UNODC-World Bank-Egmont Group Stolen Asset Recovery (StAR) initiative award for an outstanding financial crime investigation.
The award came in the wake of collaboration between the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).
This was contained in a statement by Hafsat Bakari, Chief Executive Officer of the NFIU, on Thursday in Abuja.
The award was presented at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units in Baku, Azerbaijan.
The meeting was attended by the new President of the Financial Action Task Force (FATF), Mr Giles Thompson.
Bakari said that the country received the award for an outstanding financial crime investigation.
She said that the award recognises innovation, operational effectiveness, international cooperation and measurable impact in combating money laundering and related financial crimes.
She said that the award also highlighted the effective collaboration between the NFIU and the EFCC during a major financial crime investigation.
According to the official, its financial intelligence significantly supported investigations conducted by the EFCC.
Bakari said that the timely intelligence, professional analysis and international cooperation contributed to successful asset recovery and enforcement actions.
She said that the StAR initiative award was regarded as one of the highest operational honours within the global financial intelligence community.
She that it recognises cases where financial intelligence advances investigations, disrupts illicit financial networks and strengthens international cooperation.
Bakari said that the recognition affirmed the professionalism and impact of Nigeria’s financial intelligence architecture.
She said that the effective analysis and secure intelligence sharing produced operational outcomes that disrupted criminal financial networks.
According to her, the award reflects the country’s contribution to combating money laundering, terrorism financing and other serious financial crimes.
Bakari commended EFCC Chairman, Mr Ola Olukoyede, for promoting strong inter-agency collaboration and the agency’s officers for their dedication and commitment to excellence.
“The partnership between the NFIU and the EFCC demonstrates what institutions can achieve through shared purpose,” she said.
Bakari congratulated NFIU staff and reporting entities for providing timely financial reports supporting intelligence operations.
The CEO said that the recognition would strengthen the country’s commitment to intelligence-driven approaches and international partnerships.
She said the country would continue investing in measures that protect the integrity of the global financial system.
The Egmont Group provides a secure platform for intelligence exchange among Financial Intelligence Units (FIUs) worldwide.
The organisation supports international efforts against money laundering, terrorism financing and related offences.
Nigeria’s recognition comes as the country strengthens reforms to improve financial system integrity.
It also reflects increasing international confidence in Nigeria’s financial intelligence capabilities.
Delegates from more than 186 FIUs attended the Baku meeting.
They discussed emerging financial crime threats, technological innovations and future intelligence cooperation. (NAN) (www.nannew.ng)
Edited by Ismail Abdulaziz