Terrorism financing: DSS, DIA, others move to disrupt funding, networks

In a bid to mitigate money laundering and terrorism financing in the country the Department of State Services (DSS), Defence Intelligence Agency (DIA), Nigeria Financial Intelligence Unit (NFIU) and other agencies have vowed to disrupt terrorists’ networks.
This is as the key security agencies strategies on engagement on terrorist financing risk at a two-day workshop with the theme: “Terrorism Financing Risk (TFR) for Anti-Money Laundering/Combating the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF),” held at the headquarters of the DSS in Abuja.
In his opening remarks, the Director General of the State Service (DG SS), Mr. Yusuf Bichi, called for critical thinking by security operatives, as well as law enforcement agencies, in order to achieved the desired results.
Bichi, who was represented ny the Director Training and Staff Development, Mr. Brown Ekwoaba, tasked nation’s on the need to ensure stricter application of Anti-Money Laundering/Countering Financing Terrorism measures.
He said: “The ever changing nature and sophistication of threats makes it imperative for security operatives to be critical thinkers, in order to fashion out better and efficient ways of tackle threats.
“Among the evolving global crimes, is Money Laundering and Terrorism Financing, which requires the development of a working National Anti-Money Laundering and Countering the Financing of Terrorism.
“Nigeria as a committed stakeholder, needs to contribute its quota in protecting the integrity and stability of the international financial system by terminating resources available to terrorists, as well as making it difficult for those engaged in crime not to profit from their criminal activities, as stipulated by the Financial Action Task Force.”
According to the DG SS: “This process requires countries to identify, assess and understand prevailing terrorist financing risks, with a view to mitigating it.”
He added that any nation striving for cohesion like Nigeria, must effectively disrupt terrorist networks through the application of Anti-Money Laundering/Countering Financing Terrorism measures.

“Through money laundering, criminal organizations and organized crime syndicates, benefit from their illegal activities, with some utilizing cross-border channels such as drug and human trafficking, arms smuggling among others.
“With criminal elements perfecting concealment of origin of illicit funds, it behooves on us that a strengthened anti-criminal response to money laundering activities will contribute to cutting off sources of finance, as well as countering the financial incentives, which drive the crime,” he further stated.