The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has cautioned Non-Profit Organisations across Nigeria to guard against infiltration by terrorist networks seeking to exploit the sector for financing acts of terrorism.
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Olukoyede made the warning at the launch of the National Terrorist Financing Risk Assessment for NPOs in Abuja on Tuesday.
According to a post obtained from EFCC’s X handle on Wednesday, speaking through his Chief of Staff, Michael Nzekwe, he acknowledged the critical role NPOs play in Nigeria’s socio-economic framework, from providing humanitarian aid to supporting education and healthcare.
“It is crucial to protect the integrity of this significant sector, not only to ensure national security but also to maintain public trust and confidence in the legitimate activities of charitable organizations,” Olukoyede said.
The EFCC chairman explained that the NTFRA will provide an evidence-based understanding of terrorist financing risks in the NPO sector and inform the development of appropriate regulatory and supervisory measures.
“Your cooperation, transparency, and contributions will be vital in ensuring that this risk assessment accurately reflects the realities of the sector and strengthens Nigeria’s overall anti-money laundering and counter-terrorist financing framework,” he added.
Senator Abubakar Baguda, Minister of Budget and Economic Planning, lauded the EFCC and the Special Control Unit Against Money Laundering for uniting civil society organizations through the initiative. He urged stakeholders to actively participate, emphasizing that collaboration and knowledge sharing are key to fighting economic crimes.
“Your commitment to fostering transparency, accountability, and community involvement is admirable, and it is uplifting to witness civil society and government working together to enhance financial integrity in our country,” Baguda said.
Deputy Commander of the EFCC and SCUML Director, Harry Erin, noted that the NTFRA would allow Nigeria to reassess the terrorism financing risk profile of the NPO sector since the last evaluation in 2023, and refine the risk-based supervisory framework in line with current realities.
“This assessment will help address emerging risks while acknowledging the significant progress NPOs have made since the previous evaluation,” Erin said.
The EFCC called for the active involvement of all stakeholders to ensure the assessment reflects the realities of the sector and strengthens Nigeria’s efforts to combat money laundering and terrorist financing.
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