Regulatory Alerts2024-01-02
typologies Report On Terrorism Financing In Nigeria
The Nigerian Financial Intelligence Unit (NFIU) has released a report detailing the typologies of terrorism financing in Nigeria. The report identifies various methods used by terrorist groups to raise, move, and utilize funds, including extortion, kidnapping, and exploitation of informal financial systems. It also highlights the legal and institutional frameworks in place to combat terrorism financing, as well as the challenges faced in effectively implementing these measures. The report provides recommendations for policymakers, law enforcement agencies, supervisory authorities, and reporting entities to enhance their efforts in preventing and disrupting terrorism financing in the country, aiming to protect Nigeria's economy and national security.