The Nigeria Police Force (NPF) has intensified its efforts to lift the country from the Financial Action Task Force (FATF) grey list, which identifies high-risk jurisdictions for money laundering and terrorism financing.
The country was placed on the list in February 2023, prompting urgent actions by the NPF to address financial crimes and improve compliance with international standards.
Key measures include the establishment of specialized units such as the Special Anti-Fraud Unit (SFU), the National Cybercrime Centre, and the recently launched Anti-Money Laundering Unit.
These units, according to the release issued out today by the Force Public Relations Officer, Force Headquarters, Abuja, Olumuyiwa Adejobi, have achieved significant results in combating financial crimes over the past year including, the arrest and conviction of 1,088 suspects arrested and 152 convictions secured.
Others, as listed out 8n the statement, the recovery of $11,450,000 and ₦142,261,254,228.80 recovered in total.
Adding that, the National Cybercrime Centre arrested 751 suspects, recovering ₦8,821,001,881.80, $84,000, and 115,237.91 USDT.
A notable operation, Butterfly Net, according to the statement, disrupted a cyberattack on Flutterwave, leading to the arrest of 179 individuals involved in laundering over ₦11 billion.
The creation of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) sections, the police said, has further strengthened the framework for financial investigations.
Over 2,000 officers have been trained in money laundering and terrorism financing investigations, with quarterly AML/CFT reports now submitted to the Nigerian Financial Intelligence Unit (NFIU). These steps have significantly improved Nigeria’s ratings within the FATF regime.
The Inspector-General of Police, through ACP Olumuyiwa Adejobi, Force Public Relations Officer, called on all relevant ministries, departments, and agencies (MDAs) to collaborate in the fight against financial crimes.
“The progress made in arrests, prosecutions, and recoveries underscores our determination to protect Nigeria’s financial integrity and restore trust in our institutions,” he said.
The Nigeria Police Force, according to the release, remains committed to meeting international standards, ensuring Nigeria’s removal from the FATF grey list, and bolstering global confidence in the nation’s financial system.