ASHENEWS reports that President Bola Tinubu has appointed Ms. Hafsat Bakari as the Director of the Nigerian Financial Intelligence Unit (NFIU), pending her confirmation by the Senate.
Hafsat Bakari is a lawyer and financial intelligence expert with many years of experience in anti-money laundering, counter-terrorism financing, and counter-proliferation financing (AML/CFT/CPF).
Before she was appointed the Chief Executive Officer of the NFIU, she served as Deputy Director at the Nigerian Financial Intelligence Unit and was at different times the Head of the General Services Unit; Head of the Strategy and Reorientation Unit, and Head of the Board Secretariat of the Economic and Financial Crimes (EFCC).
The Nigerian Financial Intelligence Unit (NFIU) is a crucial federal agency in Nigeria. Its primary responsibility is to collect and analyze disclosures from reporting organizations, producing financial intelligence for other agencies combating money laundering, terrorism financing, and other financial crimes.
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Here are some key points about the NFIU:
Autonomous Unit: The NFIU operates as an autonomous unit within the Central Bank of Nigeria. It serves as the central coordinating body for the country’s Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing (AML/CFT/CPF) framework.
Mission: The NFIU plays a critical role in detecting and preventing illicit financial activities. By analyzing financial disclosures, it contributes to efforts aimed at combating money laundering and terrorist financing.
Reports and Typologies: The NFIU collaborates with competent authorities and the private sector to publish insightful reports.
For instance:
The Typologies Report on Terrorism Financing in Nigeria provides valuable insights into the evolving nature of terrorism financing.
The Money Laundering Typologies Through Fraud Report highlights fraud as a high-risk predicate offense to money laundering.
Additionally, the NFIU has unveiled an extensive report on Money Laundering through Illicit Trafficking in Drugs and Psychotropic Substances in Nigeria.
Efforts Against Money Laundering: Domiciled within the Economic and Financial Crimes Commission (EFCC), the NFIU contributes significantly to the government’s efforts in combating money laundering and financing of terrorist activities in Nigeria.
