NFIU, EFCC Collaboration Earns Nigeria Prestigious Global Financial Intelligence Award
Nigeria has received international recognition for its efforts in combating financial crime, following a successful collaboration between the Nigeria Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).
The country was presented with the prestigious UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award during the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units (FIUs) held in Baku, Azerbaijan. The event was attended by the newly appointed President of the Financial Action Task Force (FATF), Giles Thompson.
The StAR Initiative Award is one of the highest honours in the global financial intelligence community. It recognises outstanding cases that demonstrate innovation, operational excellence, effective international cooperation and measurable success in combating money laundering and other serious financial crimes.
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Nigeria received the award for a case that showcased the impact of timely financial intelligence, expert analysis, strong inter-agency collaboration and international cooperation in supporting investigations, recovering stolen assets and advancing the pursuit of justice.
The NFIU’s financial intelligence was instrumental in supporting investigations conducted by the EFCC, highlighting the complementary roles of intelligence gathering and law enforcement in tackling complex financial crimes.
Reacting to the recognition, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the award as a significant milestone for the country and a testament to the professionalism of Nigeria’s financial intelligence system.
“This recognition by the Egmont Group is a proud moment for Nigeria and a powerful affirmation of the quality, professionalism and impact of our financial intelligence architecture,” she said.
According to Bakari, the award demonstrates the value of effectively analysing, securely sharing and transforming financial intelligence into operational outcomes that disrupt illicit financial networks and facilitate the recovery of assets for the benefit of the public.
She added that the recognition reflects Nigeria’s growing contribution to global efforts against money laundering, terrorism financing and other serious financial crimes.
Bakari also commended the Executive Chairman of the EFCC, Ola Olukoyede, and officers of the Commission for their commitment to collaboration.
“I wish to particularly commend the Executive Chairman of the EFCC, Mr. Ola Olukoyede, and the dedicated officers of the EFCC for their unwavering commitment to collaboration and excellence. This award affirms the strength of inter-agency cooperation in Nigeria. The partnership between the NFIU and the EFCC continues to demonstrate that when institutions work together with a shared purpose, they can achieve outcomes that earn global recognition and deliver tangible results in the fight against financial crime,” she said.
She further congratulated members of staff of the NFIU and reporting entities whose timely financial reports continue to strengthen the country’s financial intelligence framework.
The Egmont Group, which comprises Financial Intelligence Units from more than 186 jurisdictions, serves as the world’s leading platform for secure intelligence exchange and operational cooperation among FIUs in the fight against money laundering, terrorism financing and related crimes.
The international recognition comes as Nigeria continues to implement reforms aimed at strengthening its anti-money laundering and counter-terrorism financing framework, while enhancing compliance with global standards.
Industry experts say the award underscores the importance of intelligence-led investigations and strong partnerships among law enforcement agencies, financial regulators, prosecutors, reporting entities and international partners in addressing increasingly sophisticated cross-border financial crimes.
As delegates from over 186 Financial Intelligence Units gathered in Baku to discuss emerging threats, technological advancements and the future of financial intelligence, Nigeria’s award-winning case stood out as a model of effective collaboration with global impact.
Bakari noted that while the award is a major achievement, it also serves as a reminder of the country’s responsibility to remain vigilant.
“Financial crime is becoming increasingly complex, transnational and technology-driven. This award strengthens our resolve to continue investing in intelligence-led approaches, deepen cooperation with domestic and international partners, and ensure that Nigeria remains at the forefront of efforts to protect the integrity of the global financial system,” she said.
The award not only celebrates Nigeria’s achievements but also reinforces the country’s commitment to strengthening partnerships, expanding expertise and ensuring that effective financial intelligence continues to deliver meaningful results in the global fight against illicit finance.
(DEMOCRACY NEWSLINE NEWSPAPER, JULY 9TH 2026)
