By Bassey Udo
Nigeria shone like a million stars at the global stage as the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) earned the country global StAR recognition for their collaboration in their fight against financial crimes.
The two anti-graft agencies were conferred with one of the most prestigious recognitions in the international financial intelligence community in one of the most eloquent demonstrations of the country’s growing global influence in the fight against financial crime.
At the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units (FIUs) in Baku, Azerbaijan which was attended by the new FATF President, Mr. Giles Thompson, Nigeria was awarded the UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award.
The award of distinction is usually reserved for outstanding accomplishment in cases that exemplify innovation, international cooperation, operational effectiveness and measurable impact in combating money laundering and other serious financial crimes.
The award-winning case demonstrates how timely financial intelligence, professional analysis, effective inter-agency cooperation and international collaboration can support successful investigations, asset recovery and the pursuit of justice.
The award, which highlights how NFIU’s intelligence played a critical role in supporting the investigation conducted by the EFCC, showcased the complementary roles of intelligence and law enforcement in fighting financial crimes.
The StAR award, established under the Egmont Group of Financial Intelligence Units, is regarded as one of the highest operational honours within the global financial intelligence community.
It celebrates cases in which the exchange and analysis of financial intelligence have significantly advanced investigations, disrupted illicit financial networks, and strengthened international cooperation among member FIUs.
“For Nigeria, the award represents far more than a trophy. It is a powerful validation of the country’s world-recognised capacity to generate actionable financial intelligence, foster inter-agency collaboration and secure meaningful recovery of illicit assets,” the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, said in reaction to the award.
“This recognition by the Egmont Group is a proud moment for Nigeria and a powerful affirmation of the quality, professionalism and impact of our financial intelligence architecture. The Stolen Asset Recovery (StAR) Initiative Award demonstrates what is possible when intelligence is effectively analysed, securely shared and transformed into operational outcomes that disrupt illicit financial networks and recover assets for the public good. It also reflects Nigeria’s contribution to global efforts against money laundering, terrorism financing and other serious financial crimes,” she added.
Industry observers note that the success of the award-winning case underscores the critical role that cooperation plays in modern financial crime investigations, particularly in an era where illicit funds move rapidly across borders and through increasingly sophisticated channels.
They said the recognition highlights the strength of the partnership between EFCC and NFIU, two institutions whose complementary mandates stand as important pillars of Nigeria’s anti-money laundering and counter-financing of terrorism architecture.
Bakari commended the Chairman of the EFCC, Mr. Ola Olukoyede, and the dedicated officers of the Commission for their unwavering commitment to collaboration and excellence, adding that the award affirmed the strength of inter-agency cooperation in Nigeria.
“The partnership between the NFIU and the EFCC continues to demonstrate that when institutions work together with a shared purpose, they can achieve outcomes that earn global recognition and deliver tangible results in the fight against financial crime,” Bakari added.
The NFIU boss also congratulated the entire staff of the NFIU as well as all the reporting entities, particularly, which continue to support the unit by providing timely financial reports.
The Egmont Group, which brings together Financial Intelligence Units from across the world, serves as the premier platform for secure intelligence exchange and operational collaboration among FIUs.
Also, the Group represents one of the most important international networks supporting efforts to combat money laundering, terrorism financing and related predicate offences.
Nigeria’s latest achievement, which is coming at a time when the country is intensifying reforms aimed at safeguarding the integrity of its financial system and strengthening compliance with international standards, signals growing confidence among international partners in Nigeria’s ability to produce high-quality financial intelligence and translate it into tangible enforcement outcomes.
Beyond the institutions directly involved, the honour is also a recognition of the broader ecosystem of stakeholders that support financial crime investigations in Nigeria, including law enforcement agencies, prosecutors, regulators, reporting entities and international partners whose cooperation often proves indispensable in complex cross-border cases.
As delegates from more than 186 Financial Intelligence Units gathered in Baku to discuss emerging threats, technological innovations and the future of financial intelligence, Nigeria’s success story stood out as a compelling example of how effective collaboration can deliver results with global significance.
In a world where financial crime continues to evolve in scale and sophistication, the UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award serves as an affirmation that Nigeria is not merely participating in the global fight against illicit finance, it is helping to shape it.
The recognition also reinforces an important truth that when intelligence is effectively analysed, shared and acted upon, it becomes one of the most powerful tools for protecting the integrity of the global financial system.
While Nigeria celebrates the award, the NFIU CEO underlined the need for the country to also recognise the responsibility involved, particularly that financial crime is becoming increasingly complex, transnational and technology-driven.
This award, she noted, strengthens the NFIU’s resolve to continue investing in intelligence-led approaches, deepen cooperation with domestic and international partners, and ensure that Nigeria remained at the forefront of efforts to protect the integrity of the global financial system.
She said the award is both a celebration of achievement for Nigeria and a call to sustain the momentum, strengthen partnerships, deepen expertise and continue to demonstrate that excellence in financial intelligence can translate into real-world impact.
Picture Caption: L-R, Daniel Thelesklaf, Egmont Group Vice Chairman; Dr. Mohammed Bello of Egmont Group Secretariat Ottawa; Dr Ibraheem Adam, Director of Finance and Administration, NFIU; Dr. Muhammad Jiya, with Chief Operating Officer, Emerging Technologies and Innovation, NFIU; Hafsat Ababukar Bakari, Chief Executive Officer, NFIU; Giles Thompson, FATF President; Elzbieta Frankow-Jaskiewicz, Egmont Group Chair; Felix Obiamalu, General Counsel, NFIU; Mohammed Shahid Ahmed, Egmont Group Vice Chair; Moses Azege, Division Head, Other Financial Institutions, NFIU and Dr. Nnanyelugo Aham-Anyanwu, Head of Technology Platform Department, NFIU
