The Corporate Affairs Commission (CAC) and the Nigerian Financial Intelligence Unit (NFIU) have announced a collaboration to boost Nigeria’s fight against financial corruption and funding terrorism.
This was disclosed in a statement by the CAC on Wednesday after the Director/CEO NFIU, Modibbo R. Hamman Tukur, held a meeting with his CAC counterpart, Alhaji Garba Abubakar, in Abuja.
The CAC boss revealed that the Commission had approved NFIU’s request to gain more real-time access to the CAC database to ensure the effective discharge of its responsibilities.
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Tukur said that the CAC had been its number one partner, as their relationship dated back to 2005, adding that assent to CAMA, 2020 by President Muhammadu Buhari was a great boost to the fight against terrorism financing. He also revealed that upon its implementation, the NFIU had been making huge gains in that direction.
“The Nigerian Financial Intelligence Unit is 50% owned by the Federal Government and 50% owned by 170 other countries around the globe,” he added.
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What you should know
On funding terrorism, Nairametrics reported last year that six Nigerian nationals were convicted by an Abu Dhabi Federal Court of Appeal in the United Arab Emirates (UAE) for funding Boko Haram in 2019. They were convicted for laundering the sum of $782,000 between 2015 and 2016.