The United Kingdom and Nigeria have strengthened their strategic partnership to combat illicit financial activities, including money laundering, fraud and terrorism financing, following high-level engagements in the UK.
The discussions focused on improving financial intelligence, strengthening public-private partnerships and enhancing cross-border cooperation to tackle financial crimes.
The Nigerian delegation was led by Hafsat Bakari, Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU). It comprised representatives of the Central Bank of Nigeria (CBN), Nigeria Data Protection Commission (NDPC), Nigerian Communications Commission (NCC), as well as stakeholders from the banking and telecommunications sectors.
A major highlight of the visit was an engagement with the UK’s Joint Money Laundering Intelligence Taskforce (JMLIT), a public-private partnership that brings together law enforcement agencies, regulators and private-sector institutions to identify and respond to illicit financial threats.
Working sessions with JMLIT and UK Finance provided opportunities for both countries to exchange expertise on financial intelligence, information sharing and collaborative approaches to tackling illicit financial activities.
The engagements also supported Nigeria’s efforts to establish the Joint Financial Intelligence Cooperation (JFIC), a Nigerian-led initiative designed to improve collaboration between government institutions and private-sector stakeholders.
Anchored on trust, governance and technology-enabled cooperation, JFIC aims to strengthen the collective capacity to detect and respond to money laundering, fraud, terrorism financing and other illicit financial activities.
During the visit, the Nigerian delegation also met senior representatives of the UK’s National Crime Agency (NCA), UK Financial Intelligence Unit (UKFIU), HM Revenue & Customs (HMRC), Foreign, Commonwealth & Development Office (FCDO) and HM Treasury.
Discussions covered operational cooperation, the UK’s Financial Action Task Force (FATF) Presidency, trade-based money laundering, emerging financial crime risks and opportunities for stronger international collaboration.
Speaking on the partnership, Chris Chalmers, Deputy Director of the Illicit Finance and Anti-Corruption Department at the FCDO, said Nigeria and the UK had a long-standing relationship in addressing illicit financial flows.
He noted that illicit finance threatens both economies and supports the activities of transnational criminal networks.
Chalmers said the engagements had helped consolidate cooperation on shared threats and international standards, particularly in public-private partnerships.
He added that the FCDO would continue working with Nigeria to operationalise the Joint Financial Intelligence Collaboration.
Similarly, Bakari said the increasing interconnectedness of illicit financial networks made international cooperation essential.
She explained that Nigeria was strengthening its financial intelligence framework through initiatives such as JFIC, which would enable public institutions and private-sector organisations to work more effectively together.
According to her, the partnership with the UK would provide opportunities to exchange expertise, develop practical solutions and strengthen Nigeria’s financial system.
Marc Brown, Fraud Threat Lead at the National Economic Crime Centre (NECC) of the NCA, also reaffirmed the UK’s commitment to supporting Nigeria’s efforts.
He said the partnership between the NECC and NFIU reflected a shared commitment to protecting economic prosperity through stronger responses to financial crime.
Brown added that the UK would continue supporting Nigeria’s JFIC initiative through improved intelligence sharing, operational effectiveness and efforts to prevent and disrupt financial crime.