Nigeria and UK Enhance Cooperation Against Illicit Finance

The United Kingdom and Nigeria have strengthened their cooperation against illicit finance following high-level engagements involving the Nigerian Financial Intelligence Unit (NFIU) and key UK financial crime agencies. This collaboration aims to enhance intelligence sharing and cross-border cooperation.

A significant outcome of these engagements is the development of the Joint Financial Intelligence Cooperation (JFIC), a Nigerian-led public-private partnership designed to improve collaboration between government institutions and private-sector stakeholders in addressing financial crimes. The Nigerian delegation, led by Hafsat Bakari, the Chief Executive Officer of the NFIU, included representatives from the Central Bank of Nigeria, the Nigeria Data Protection Commission, the Nigerian Communications Commission, and stakeholders from the banking and telecommunications sectors.

During their visit to the UK, the delegation engaged with the Joint Money Laundering Intelligence Taskforce (JMLIT), which comprises law enforcement agencies, regulators, and financial institutions, focusing on financial intelligence, information sharing, and collaborative approaches to combat illicit financial activities.