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The Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Mrs. Hafsat Abubakar Bakari, has called on the judiciary to prioritise the adjudication of money laundering cases, stressing the judiciary’s vital role in interpreting and enforcing laws related to Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF).
Speaking at a Roundtable for Heads of Courts in Nigeria organised by the National Judicial Institute (NJI) in Abuja on Monday, Mrs. Bakari emphasized that the fight against money laundering, terrorism financing, and the proliferation of weapons of mass destruction remains a global concern. She noted that without a robust legal system to prosecute offenders, the efforts of law enforcement agencies, regulators, and the private sector could be severely undermined.
In her address, Bakari highlighted the judiciary’s role in enforcing national legislation and global standards like the Financial Action Task Force (FATF) recommendations. She noted that judicial engagement is key to ensuring legal frameworks remain comprehensive, up-to-date, and aligned with international best practices.
“The judiciary plays a crucial role in interpreting and enforcing laws related to AML/CFT/CPF,” she stated. “Strengthening legal frameworks through judicial engagement ensures that our laws remain comprehensive, up-to-date, and in line with international standards and best practices.”
Bakari further stressed the importance of continuous capacity building for judges, as financial crimes evolve in complexity. She emphasized the need for judges to be equipped with knowledge on emerging financial crime trends and innovative transaction methods used by criminals. This continuous education, she said, will enhance the judiciary’s ability to effectively handle complex AML/CFT/CPF cases and ensure fair outcomes.
Additionally, she pointed to the transnational nature of terrorism financing and the proliferation of weapons, calling for enhanced international cooperation. Bakari noted that global standards like the FATF Standards and the United Nations Conventions form the foundation of the international response to these threats.
In her concluding remarks, Mrs. Bakari commended the judiciary for its recent successes in the prosecution of serious financial crimes and urged continued efforts to prioritise the adjudication of complex money laundering cases. She emphasized that bringing offenders to justice and ensuring appropriate consequences will act as a deterrent to future offenders, reinforcing the country’s commitment to combating illicit financial activities.
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