UNITAR and the Nigerian Financial Intelligence Unit signed a memorandum of understanding to strengthen cooperation against money laundering, terrorist financing and proliferation financing.
14 February 2025, Geneva - On 12 February 2025, the United Nations Institute for Training and Research (UNITAR) and the Nigerian Financial Intelligence Unit (NFIU) signed a memorandum of understanding to enhance cooperation in combating money laundering, terrorist financing and proliferation financing. This landmark agreement aims to bolster Nigeria's anti-money-laundering, counter-terrorist financing, and counter-proliferation financing framework through strategic capacity-building initiatives, research collaborations and policy advisory support.
The agreement marks a significant step towards strengthening Nigeria's financial integrity by leveraging UNITAR's expertise in training and research. Under this partnership, UNITAR and NFIU will jointly develop and implement specialized training programmes, conduct research on emerging financial threats and provide technical assistance to enhance institutional frameworks.
Ms. Mihoko Kumamoto, Director of the UNITAR Division for Prosperity, highlighted the importance of this collaboration:
This partnership with NFIU underscores UNITAR's commitment to supporting global efforts in financial integrity and security. By combining UNITAR's training expertise with NFIU's operational capabilities, we aim to enhance Nigeria's ability to combat financial crimes effectively." - Ms. Mihoko Kumamoto
Ms. Hafsat Abubakar Bakari, Director and CEO of NFIU, expressed enthusiasm about the collaboration:
Strengthening Nigeria's anti-money-laundering, counter-terrorist financing, and counter-proliferation financing framework is a national priority, and this partnership with UNITAR brings invaluable support to our efforts. Together, we will implement cutting-edge training and research initiatives that will significantly enhance our ability to detect, prevent and combat financial crimes." - Ms. Hafsat Abubakar Bakari
Areas of collaboration under the agreement include:
- Capacity-building and training: Developing specialized workshops and e-learning programmes for NFIU personnel and stakeholders.
- Joint research and policy advice: Conducting studies on financial crime trends, digital technology applications and emerging threats in Nigeria and West Africa.
- Technical assistance: Providing expert guidance on regulatory frameworks, data analysis and risk-based supervision.
- Public-private sector engagement: Strengthening cooperation between financial institutions, regulators and law enforcement agencies.
- Regional training hub: Establishing Nigeria as a centre of excellence for financial crime prevention in West Africa.
The memorandum of understanding reaffirms both organizations' dedication to upholding international standards in anti-money-laundering, counter-terrorist financing, and counter-proliferation financing and fostering a more secure financial system in Nigeria and beyond.
