Nigeria to Launch Global Women’s Network for Financial Crime Prevention
The Nigeria Financial Intelligence Unit (NFIU) is set to launch the Nigeria chapter of the Global Women’s Network for Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Finance on October 6. This initiative aims to enhance women’s leadership in combating financial crime.
Leading the initiative will be Hafsat Abubakar Bakari, the NFIU’s chief executive officer and Nigeria’s national correspondent for the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA). This was announced in a statement from the agency on Wednesday.
The NFIU emphasized that the initiative reflects Nigeria’s dedication to fostering collaboration among institutions focused on women’s leadership, professional growth, and the fight against money laundering, terrorist financing, and weapons proliferation financing. Bakari highlighted that women have been instrumental in significantly enhancing Nigeria’s financial health across public and private sectors.
She pointed out that women are vital to various roles within the financial sector, including financial intelligence, criminal investigation, regulation, supervision, compliance, risk management, legal advisory services, fintech innovation, and corporate governance.
Empowering Women Through Mentorship and Collaboration
The NFIU stated that the Nigeria chapter will unite women from diverse corners of the financial intelligence sphere, including law enforcement, regulatory agencies, banks, financial institutions, non-financial businesses and professions, academic institutions, and development agencies.
Members will have access to an array of benefits such as mentorship programs, technical exchanges, networking opportunities, and capacity-building initiatives designed to bolster expertise and collaboration across these sectors. This effort aligns with a broader vision of cultivating a more inclusive and interconnected community of experts dedicated to combating financial crime.
Furthermore, the NFIU plans to advocate for the establishment of a West African branch of the AML/CFT/CPF Women’s Network through GIABA. This regional platform aims to expand opportunities for mentorship, professional development, and knowledge sharing among women throughout West Africa while also enhancing cooperation between nations in addressing issues of money laundering, terrorist financing, and proliferation financing.
NFIU encourages women engaged in the AML/CFT/CPF ecosystem to participate in this initiative and contribute to building robust professional networks. Money laundering and terrorist financing are significant global challenges, necessitating strengthened legal, regulatory, and institutional frameworks aligned with the Financial Action Task Force (FATF) standards, which serve as international benchmarks against illicit financial flows.
As a member of GIABA—a FATF-style regional body for West Africa—Nigeria conducts mutual assessments of member countries’ anti-money laundering and counter-terrorist financing systems. The NFIU supports reforms to enhance compliance with international standards, reinforcing the country’s commitment to combating financial crime effectively. Established during Singapore’s FATF Chair, the AML/CFT/CPF Women’s Network has since expanded under the organization’s current leadership, promoting women’s participation in leadership roles within the global financial health community through mentorship, knowledge sharing, and professional development.
