Nigeria has earned international recognition for its efforts in combating financial crime after receiving the prestigious United Nations Office on Drugs and Crime (UNODC)–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units (FIUs) in Baku, Azerbaijan.
The award, regarded as one of the highest operational honours in the global financial intelligence community, recognises outstanding cases that demonstrate innovation, international cooperation, operational effectiveness and measurable impact in tackling money laundering and other serious financial crimes.
The recognition followed an award-winning case in which financial intelligence generated by the Nigerian Financial Intelligence Unit (NFIU) played a pivotal role in supporting an investigation conducted by the Economic and Financial Crimes Commission (EFCC). The case showcased the effectiveness of intelligence-led investigations, inter-agency collaboration and international cooperation in asset recovery and the disruption of illicit financial networks.
Speaking after the award presentation, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the recognition as a proud moment for Nigeria and an affirmation of the country’s growing capacity in financial intelligence.
“This recognition by the Egmont Group is a proud moment for Nigeria and a powerful affirmation of the quality, professionalism and impact of our financial intelligence architecture,” she said.
Bakari noted that the StAR Initiative Award demonstrated what could be achieved when financial intelligence is professionally analysed, securely shared and translated into operational outcomes that disrupt illicit financial networks and recover assets for the benefit of the public.
She added that the award also reflected Nigeria’s growing contribution to global efforts against money laundering, terrorism financing and other serious financial crimes.
The NFIU chief commended the Executive Chairman of the EFCC, Ola Olukoyede, and officers of the Commission for their commitment to inter-agency cooperation, describing the partnership between both institutions as a model of collaboration.
“I wish to particularly commend the Executive Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede, and the dedicated officers of the EFCC for their unwavering commitment to collaboration and excellence. This award affirms the strength of inter-agency cooperation in Nigeria,” Bakari said.
She also congratulated members of staff of the NFIU and reporting entities whose timely financial reports continue to support intelligence gathering and financial crime investigations.
The Egmont Group, which comprises Financial Intelligence Units from more than 180 jurisdictions, serves as the leading global platform for the secure exchange of financial intelligence and operational collaboration in the fight against money laundering, terrorism financing and related financial crimes.
Industry observers said the award underscores the growing importance of intelligence sharing and institutional cooperation in tackling increasingly sophisticated cross-border financial crimes.
They noted that the recognition reflects the complementary roles played by the NFIU and the EFCC within Nigeria’s anti-money laundering and counter-terrorism financing framework, while also highlighting the contributions of law enforcement agencies, prosecutors, regulators, reporting entities and international partners involved in complex financial investigations.
Nigeria’s recognition came as delegates from more than 186 Financial Intelligence Units met in Baku to deliberate on emerging threats, technological innovations and the future of financial intelligence.
Bakari said the award should serve not only as a celebration of Nigeria’s achievements but also as a renewed commitment to strengthening intelligence-led approaches to combating financial crime.
“Financial crime is becoming increasingly complex, transnational and technology-driven. This award strengthens our resolve to continue investing in intelligence-led approaches, deepen cooperation with domestic and international partners, and ensure that Nigeria remains at the forefront of efforts to protect the integrity of the global financial system,” she said.
The latest recognition is expected to further enhance Nigeria’s standing within the international financial intelligence community and reinforce confidence in the country’s capacity to generate actionable intelligence, strengthen inter-agency collaboration and deliver tangible results in the global fight against illicit financial flows.
