EFCC Warns NPOs Against Terrorist Financing Risks

The Economic and Financial Crimes Commission (EFCC), led by Chairman Ola Olukoyede, has issued a warning to non-profit organizations (NPOs) in Nigeria to be vigilant against infiltration by terrorist networks seeking to exploit the sector for financing terrorism. This warning was made during the launch of the National Terrorist Financing Risk Assessment (NTFRA) in Abuja, where Olukoyede emphasized the importance of maintaining public trust in charitable organizations.

The NTFRA aims to provide an evidence-based understanding of the terrorist financing risks associated with the NPO sector, which will inform the development of appropriate regulatory and supervisory measures. Abubakar Baguda, a senator, praised the EFCC's special control unit against money laundering and urged stakeholders to actively participate in combating economic crime.

The warning comes amid a resurgence of terrorist attacks in Nigeria, particularly from Boko Haram and ISWAP, highlighting the urgent need for enhanced financial integrity and cooperation among civil society and government to combat these threats.