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The Department of State Services (DSS), Defence Intelligence Agency (DIA), Nigeria Financial Intelligence Unit (NFIU) and other agencies have moved to disrupt terrorists’ networks as part of the strategy to check money laundering and terrorism financing.
This was the high point of a two-day workshop at the headquarters of the DSS in Abuja yesterday.
The theme of the event was “Terrorism Financing Risk (TFR) for Anti- Money Laundering/ Combating the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF)”. The conference was organised for law enforcement agencies and other regulatory and criminal justice sector agencies to discuss the issue of terrorism financing and money laundering. The DSS Director General Yusuf Bichi called for critical thinking by security officials to achieve the desired results.
He stressed the need to ensure a stricter application of anti-money laundering/ countering financing terrorism measures. Represented by Mr. Brown Ekwoaba, the Director Training and Staff Development, Bichi said: “The ever-changing nature and sophistication of threats makes it imperative for security officials to be critical thinkers, in order to fashion out better and efficient ways of tackling threats.
“Among the evolving global crimes, are Money Laundering and Terrorism Financing, which requires the development of a working National Anti-Money Laundering and Countering the Financing of Terrorism. “Nigeria as a committed stakeholder needs to contribute its quota in protecting the integrity and stability of the international financial system by terminating resources available to terrorists, as well as making it difficult for those engaged in crime not to profit from their criminal activities, as stipulated by the Financial Action Task Force.”
The DSS chief said: “Through money laundering, criminal organisations and organised crime syndicates, benefit from their illegal activities, with some utilizing cross-border channels such as drug and human trafficking and arms smuggling, among others.
“With criminal elements perfecting concealment of origin of illicit funds, it behoves on us that a strengthened anti-criminal response to money laundering activities will contribute to cutting off sources of finance, as well as countering the financial incentives, which drive the crime.”
