Nigeria is ramping up efforts to tackle increasingly sophisticated financial crimes, as the Nigerian Financial Intelligence Unit and the Nigerian Bar Association Section on Business Law reaffirm their commitment to closer collaboration aimed at protecting the country’s financial system.
The renewed partnership was underscored during a high-level meeting in Abuja, where the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, represented by Babagana Bashir, commended the role played by the NBA-SBL in Nigeria’s recent exit from the Financial Action Task Force Grey List. She highlighted the critical importance of sustained cooperation between public institutions and private sector stakeholders, particularly the legal profession, in strengthening regulatory compliance and transparency.
Speaking at the meeting, Bakari emphasised that while Nigeria has made notable progress, the fight against financial crimes requires continuous vigilance. She warned that evolving global risks, alongside an upcoming mutual evaluation process, demand stronger partnerships and proactive engagement across sectors.
In response, the Chairperson of the NBA-SBL, Ozofu Ogiemudia, expressed appreciation for the NFIU’s ongoing support and reaffirmed the Section’s commitment to advancing sound financial governance. She noted that the legal community remains a critical pillar in fostering investor confidence and ensuring the integrity of Nigeria’s financial ecosystem.
Both organisations agreed to deepen their collaboration through targeted capacity-building initiatives and specialised engagements. The move is expected to further empower legal practitioners and enhance their role in combating illicit financial flows, money laundering, and other financial crimes.
