Nigerians were called upon to unite in the fight against terrorism, financing and violent extremism, particularly in the North-East region of the country by the Civil Society Legislative Advocacy Centre.
Mr. Auwal Ibrahim Musa (Rafsanjani) the Executive Director made the call at the stakeholders’ Dialogue on Preventing Terrorism, Financing and Violent Extremism in Nigeria.
Musa said the Dialogue remains critical to galvanising all-inclusive conversation on the thematic focus, giving the recurring threats to the lives and property of many Nigerians, occasioned by terrorism and violent extremism that have hitherto bedevilled the country.
“Terrorism constitutes a global threat, and Nigeria, unfortunately, is one of the countries that faces a high level of terrorism" Musa said.
He also revealed that terrorism financing is the backbone of terrorist groups as funds go into buying weapons, recruiting militants, and operating terrorist organisations. Just as the United Nations Office on Drugs and Crime (UNODC) puts it, “terrorist groups need money to sustain themselves and carry out terrorist acts.
Terrorist financing encompasses various methods, from tapping into legitimate sources like business profits and charities to resorting to illicit activities such as trafficking and abductions. Counterterrorism efforts are crucial for sustainable development.
Terrorism worsens poverty, displacement, and destroys livelihoods, hindering overall progress. Weak border security allows terrorists and arms smuggling, facilitating their operations and funding.
The dialogue further revealed the evolving tactics employed by terrorist financiers, including the use of informal financial channels such as Bureau de Change operators and point-of-sale devices. Despite regulatory efforts within the banking sector, gaps persist in identifying and combating terrorist financing activities, indicating the need for more robust measures.
Mr. Ola Olukoyede the Executive Chairman of the Economic and Financial Crimes Commission in his goodwill message, highlighted legislative interventions aimed at strengthening anti-money laundering and terrorism financing frameworks. He then emphasized the role of the Money Laundering (Prevention and Prohibition) Act and the Terrorism (Prevention and Prohibition) Act in enhancing regulatory oversight of designated non-financial businesses and professions vulnerable to terrorist financing.
Mr. Edwin Harris Jr. the Director General of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), emphasised the urgent need for decisive action to address the proliferation of violent extremism and terrorism across the ECOWAS region.
