The Nigerian Financial Intelligence Unit (NFIU) is set to utilize Artificial Intelligence (AI) and machine learning tools to identify and combat illicit financial flows (IFFs) and other fraudulent activities.
During the opening session of the first NFIU management staff retreat, NFIU Chief Executive Officer Hajiya Hafsat Bakari highlighted the organization’s commitment to equipping its staff with modern skills and technologies. She emphasized that the deployment of AI and machine learning is part of a broader strategy to enhance the unit’s capability in analyzing information and data, thereby streamlining its operations.
Bakari stated, “The NFIU has strengthened its technological infrastructure, incorporating AI and machine learning to support our operational duties, particularly in data analysis. This initiative aligns with the federal government’s push for a paperless work environment. Furthermore, the Crimes Records Information Management System (CRIMS) has been expanded to more competent authorities and states across the federation, facilitating secure and encrypted information sharing.”
Addressing the NFIU’s international efforts, Bakari noted, “Given the transnational nature of serious crime, our responsibilities extend beyond Nigeria’s borders. We have bolstered our international partnerships, particularly within West Africa, where we serve as the permanent secretariat for the regional FIU forum covering 17 member states. The NFIU also plays a leading role in the Lake Chad and Sahel network of FIUs, which focus on combating terrorism financing. In June 2024, the NFIU was elected as the vice-chair of the Global Egmont Group of FIUs, which comprises 177 member countries. We continue to mentor FIUs in the West African region, successfully supporting Liberia’s FIU into the Egmont Group and aiding The Gambia and Sierra Leone in their efforts to achieve the same.”
Bakari also reaffirmed the NFIU’s commitment to helping Nigeria exit the Financial Action Task Force (FATF) “grey list,” expressing confidence that the remaining steps will be completed within the coming months.
At the event, Minister of Budget and National Planning Atiku Abubakar Bagudu urged the NFIU and other financial crimes agencies to ensure the integrity and soundness of Nigeria’s financial systems. He emphasized that improving Nigeria’s financial ratings would attract foreign direct investment and help address the country’s budget deficit.
Additionally, the Chairman of the National Drug Law Enforcement Agency (NDLEA), Brig.-Gen. Mohamed Marwa (rtd), commended the NFIU for its intelligence support, which has led to the arrest of over 52,000 drug offenders, including 50 drug barons. He pledged continued collaboration between the NDLEA and NFIU to curb illicit financial flows linked to drug trafficking.
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