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Nigeria, 16 other countries brainstorm towards tackling terrorist financing



Nigeria and sixteen other African nations have decided to cooperate to stop the financing of terrorism and money laundering for regional stability and security.

Benin, Burkina Faso, Cabo Verde, Comoros, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Sao Tome and Principe, Senegal, Sierra Leone, and Togo are the other nations.

The Financial Intelligence Units of the participating nations met on Tuesday in Abuja to create an action plan to address the financial challenges brought on by terrorism and the spread of weapons in the area.

Terrorist attacks have hindered development in the area, according to Boss Mustapha, Secretary to the Government of the Federation, who spoke during the units’ first meeting.

READ ALSO:NIGER ATTACK: Buhari charges West African nations to collaborate in fight against terrorism

He bemoaned the fact that terrorist organizations are becoming more powerful in the area as a result of the many financial sources they have been obtaining from both local and foreign partners.

Mustapha said, “The frequency of terror attacks around the region due to the activities of Boko Haram, the Islamic State of West African Province, and other related groups has deprived many people of attaining their full potential at a very significant cost to the socioeconomic development of the region.

“The security threats and other forms of insurgency are being aggressively tackled by various governments and institutions, however, the sophisticated and evolving techniques used by the terrorists in financing their activities have continued to be the greatest challenge facing the region.

“The terrorist groups have managed to sustain their operations with the finances they received from multiple sources, aided by the complex transnational and transactional criminal networks that are operating in the region alongside their global partners.”

Mustapha continued by saying that when the nations take regional action to combat the menace, terrorism funding will be eliminated.

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