Nigeria Police Force Steps Up Fight Against Money Laundering, Cybercrime
Princess-Ekwi Ajide
In a move to address financial crimes and lift Nigeria off the Financial Action Task Force (FATF) grey list, the Nigeria Police Force (NPF) has intensified efforts through specialised units such as the Special Anti-Fraud Unit, the National Cybercrime Centre, and the newly launched Anti-Money Laundering Unit.
Since being designated a high-risk jurisdiction for money laundering and terrorism financing in February 2023, the NPF has recorded significant achievements.
Over the past year, these units have arrested 1,088 suspects, secured 152 convictions, and recovered ₦142 billion and $11.45 million in stolen funds.
The National Cybercrime Centre has notably been instrumental in tackling digital financial crimes, recovering over ₦8.8 billion and arresting 751 cybercrime suspects.
The Operation Butterfly Net, has been a huge figure in this success story as it thwarted a cyberattack on Flutterwave and led to the arrest of 179 suspects involved in laundering over ₦11 billion.
The NPF has also trained over 2,000 officers in money laundering and terrorism financing investigations, enhancing Nigeria’s compliance with FATF standards.
Quarterly reports submitted to the Nigerian Financial Intelligence Unit (NFIU) reflect improved ratings within the FATF regime.
The Force, through its spokesperson, ACP Olumuyiwa Adejobi, has called on all relevant ministries, departments, and agencies to join hands in this critical mission to nip money laundering in the bud in Nigeria.
The NPF’s proactive approach underscores its commitment to safeguarding Nigeria’s financial integrity and restoring trust in the system.
