Olukoyede Warns NPOs Against Being Used for Terrorism Financing

March 10, 2026, Abuja, Nigeria

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has cautioned Non-Profit Organisations (NPOs) across Nigeria to guard against infiltration by terrorist networks seeking to exploit the sector to finance acts of terrorism against the state.

Olukoyede issued the warning in Abuja on Tuesday during the launch of the National Terrorist Financing Risk Assessment (NTFRA) for NPOs.

Speaking through his Chief of Staff, Michael Nzekwe, the EFCC chairman acknowledged the important role NPOs play in Nigeria’s socio-economic development. He noted that many organizations provide humanitarian assistance, support vulnerable populations, promote education and healthcare, and assist the government in delivering essential social services.

He further emphasized that NPOs are recognized globally by the Financial Action Task Force (FATF) for their contributions. However, he warned that without adequate safeguards, the sector could become vulnerable to exploitation for terrorist financing.

Olukoyede also commended NPOs for their role in helping Nigeria exit the FATF grey list in 2025, stressing the need to protect the integrity of the sector in order to maintain public trust and safeguard national security.

According to him, the launch of the NTFRA for the NPO sector marks another important step in strengthening the gains already achieved in combating financial crimes. He explained that the new assessment would provide an evidence-based understanding of the nature, scale, and drivers of terrorist financing risks within the sector, which will guide the development of appropriate regulatory and supervisory measures.

Calling for cooperation from stakeholders, Olukoyede emphasized the importance of transparency and collaboration in ensuring the success of the initiative. He noted that stakeholder participation would ensure the assessment reflects the realities within the sector and strengthens Nigeria’s overall anti-money-laundering and counter-terrorism financing framework.

Also speaking at the event, the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, commended the EFCC and the Special Control Unit Against Money Laundering (SCUML) for bringing together civil society organizations to address issues of financial integrity. He described the initiative as a significant step in the fight against money laundering and terrorist financing.

Bagudu urged stakeholders to take the initiative seriously and strengthen collaboration and knowledge sharing, noting that such cooperation would have a meaningful impact in tackling economic crimes in Nigeria.

In his remarks, the Director of SCUML and Deputy Commander of the EFCC, Harry Erin, appreciated stakeholders for their commitment to improving transparency, integrity, and accountability within the NPO sector. He explained that the new risk assessment would allow Nigeria to review changes in the terrorism financing risk profile of the NPO sector since the previous evaluation conducted in 2023.

He added that the assessment would help refine Nigeria’s risk-based supervisory approach and ensure regulatory measures remain aligned with current realities and the progress made within the sector.