Nigeria wins global anti-money laundering award for financial crime investigation

Crime Diary

ABUJA, Nigeria (NPA) — Nigeria has received a prestigious international award recognising its efforts in combating money laundering and financial crime, following a joint investigation by the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).

The UNODC-World Bank-Egmont Group Stolen Asset Recovery (StAR) Initiative Award for an outstanding financial crime investigation was presented during the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units in Baku, Azerbaijan.

The event was attended by the new President of the Financial Action Task Force (FATF), Giles Thompson, alongside delegates from more than 186 Financial Intelligence Units (FIUs) worldwide.

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In a statement issued on Thursday, Chief Executive Officer of the NFIU, Hafsat Bakari, said the award recognises innovation, operational effectiveness, international cooperation and measurable impact in tackling money laundering and other financial crimes.

According to her, the recognition followed the successful collaboration between the NFIU and the EFCC during a major financial crime investigation.

Bakari said financial intelligence generated by the NFIU significantly strengthened investigations conducted by the EFCC, with timely intelligence, professional analysis and international cooperation contributing to successful asset recovery and enforcement actions.

She described the StAR Initiative Award as one of the highest operational honours in the global financial intelligence community, noting that it recognises investigations in which financial intelligence plays a critical role in disrupting illicit financial networks and strengthening international cooperation.

“The recognition affirms the professionalism and effectiveness of Nigeria’s financial intelligence architecture and demonstrates how secure intelligence sharing and strong inter-agency collaboration can produce meaningful operational outcomes,” she said.

Bakari added that the award reflects Nigeria’s growing contribution to the global fight against money laundering, terrorism financing and other serious financial crimes.

She commended EFCC Chairman Ola Olukoyede for promoting effective collaboration between law enforcement agencies and praised officers of both institutions for their professionalism and dedication.

“The partnership between the NFIU and the EFCC demonstrates what institutions can achieve through shared purpose,” Bakari said.

She also congratulated NFIU personnel and reporting entities whose timely financial reports supported the intelligence-led investigation.

According to her, the international recognition reinforces Nigeria’s commitment to strengthening intelligence-driven investigations, expanding international partnerships and protecting the integrity of the global financial system.

The Egmont Group serves as a secure platform for intelligence exchange among Financial Intelligence Units across the world and supports international efforts to combat money laundering, terrorism financing and related financial crimes.

The recognition comes as Nigeria continues implementing reforms aimed at strengthening financial system integrity and enhancing international confidence in its anti-money laundering framework.