Nigeria has received the prestigious UNODC-World Bank-Egmont Group Stolen Asset Recovery (StAR) Initiative Award for outstanding financial crime investigation, following a joint effort by the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).
The award was presented during the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units held in Baku, Azerbaijan, where delegates from more than 186 Financial Intelligence Units (FIUs) gathered to discuss emerging financial crime threats, technological innovations and international intelligence cooperation.
The Chief Executive Officer of the NFIU, Hafsat Bakari, disclosed this in a statement issued on Thursday in Abuja.
Bakari said Nigeria earned the recognition for its exceptional performance in investigating financial crimes, noting that the award celebrates innovation, operational effectiveness, international collaboration and measurable success in combating money laundering and other financial offences.
According to her, the award recognised the successful collaboration between the NFIU and the EFCC during a major financial crime investigation, in which financial intelligence provided by the NFIU significantly strengthened the commission’s investigative efforts.
She said the timely intelligence, detailed analysis and international cooperation contributed to successful asset recovery and other enforcement actions.
Bakari described the StAR Initiative Award as one of the highest operational honours in the global financial intelligence community, recognising investigations in which financial intelligence plays a critical role in disrupting illicit financial networks and strengthening cross-border cooperation.
She added that the recognition affirmed the professionalism and effectiveness of Nigeria’s financial intelligence system and reflected the country’s growing contribution to the global fight against money laundering, terrorism financing and other serious financial crimes.
The NFIU boss commended EFCC Chairman, Ola Olukoyede, for fostering strong inter-agency collaboration and praised officers of both organisations for their professionalism and commitment.
“The partnership between the NFIU and the EFCC demonstrates what institutions can achieve through shared purpose,” she said.
Bakari also congratulated NFIU personnel and reporting entities for providing timely financial reports that supported intelligence operations.
She said the recognition would further strengthen Nigeria’s commitment to intelligence-led investigations, enhanced international partnerships and continuous efforts to safeguard the integrity of the global financial system.
The Egmont Group serves as a global platform for the secure exchange of financial intelligence among Financial Intelligence Units worldwide, supporting international efforts to combat money laundering, terrorism financing and other related financial crimes.
The plenary was attended by the newly elected President of the Financial Action Task Force (FATF), Giles Thompson.
