ICPC Warns Money Laundering Threatens Nigeria's Economy

On Tuesday in Abuja, Dr. Musa Aliyu, the chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), highlighted the severe threats posed by money laundering and terrorist financing to Nigeria's economy and national security. During a media outreach event organized by the Intergovernmental Action Group against Money Laundering in West Africa, Aliyu stated that these financial crimes erode public trust, undermine governance, and deprive citizens of essential resources for development.

He noted the evolving nature of technology complicating the fight against financial crime, as criminals exploit digital platforms and artificial intelligence to conceal illicit funds. Aliyu commended the Nigerian Financial Intelligence Unit for adopting advanced tools to track suspicious transactions.

He emphasized the critical role of the media in exposing illicit financial flows and raising public awareness about the dangers of money laundering. The outreach program aims to equip journalists with the necessary tools to investigate financial crimes and strengthen Nigeria's anti-money laundering framework.