Title: Nigeria Strengthens Capacity for Anti-Money Laundering Evaluation

Nigeria has commenced efforts to strengthen the capacity of 100 members of its Mutual Evaluation Working Groups ahead of the country’s forthcoming third-round Mutual Evaluation on Anti-Money Laundering, Counter-Financing of Terrorism and Counter-Proliferation Financing.

In a statement by the Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, the training aims to establish a common understanding of the assessment methodology ahead of the national Mock Mutual Evaluation Exercise.

The exercise is being organised by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) in collaboration with the NFIU to prepare relevant institutions for the assessment and strengthen Nigeria’s compliance with international standards.

The statement further emphasised that Nigeria must demonstrate not only the strength of its laws and institutional frameworks but also their effectiveness in practice through credible evidence and measurable results.

Representing the Director-General of GIABA, Giwa Siman Sechap, the Director of Evaluations and Compliance at the GIABA Secretariat, highlighted the importance of a shared understanding of the mutual evaluation methodology and the need for credible evidence to demonstrate effective implementation.

Similarly, Professor Shehu Abdullahi, representing SecFIN Africa, underscored the importance of sustained capacity development and collaboration among relevant institutions in achieving the country’s objectives.

The initiative is expected to enhance inter-agency cooperation, improve institutional preparedness and strengthen Nigeria’s ability to demonstrate effective measures against money laundering, terrorism financing and proliferation financing.

Category: National Security / Financial Regulation