Nigeria: Nigeria has won the UNODC-World Bank-Egmont Group Stolen Asset Recovery (StAR) initiative award for an outstanding financial crime investigation. The award came in the wake of collaboration between the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).
According to News Agency of Nigeria, the award was presented at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units in Baku, Azerbaijan. The meeting was attended by the new President of the Financial Action Task Force (FATF), Mr. Giles Thompson. Hafsat Bakari, Chief Executive Officer of the NFIU, stated that the country received the award for an outstanding financial crime investigation, recognizing innovation, operational effectiveness, international cooperation, and measurable impact in combating money laundering and related financial crimes.
Bakari emphasized the effective collaboration between the NFIU and the EFCC during a major financial crime investigation. The financial intelligence provided by the NFIU significantly supported investigations conducted by the EFCC, contributing to successful asset recovery and enforcement actions. The StAR initiative award is considered one of the highest operational honors within the global financial intelligence community, recognizing cases where financial intelligence advances investigations, disrupts illicit financial networks, and strengthens international cooperation.
The recognition affirms the professionalism and impact of Nigeria’s financial intelligence architecture. Effective analysis and secure intelligence sharing produced operational outcomes that disrupted criminal financial networks. The award reflects Nigeria’s contribution to combating money laundering, terrorism financing, and other serious financial crimes.
Bakari commended EFCC Chairman, Mr. Ola Olukoyede, for promoting strong inter-agency collaboration and praised the agency’s officers for their dedication and commitment to excellence. She highlighted that the partnership between the NFIU and the EFCC demonstrates the achievements possible through shared purpose. Bakari also congratulated NFIU staff and reporting entities for providing timely financial reports supporting intelligence operations.
The CEO stated that the recognition would strengthen Nigeria’s commitment to intelligence-driven approaches and international partnerships. The country plans to continue investing in measures that protect the integrity of the global financial system.
The Egmont Group provides a secure platform for intelligence exchange among Financial Intelligence Units (FIUs) worldwide, supporting international efforts against money laundering, terrorism financing, and related offenses. Nigeria’s recognition comes as the country strengthens reforms to improve financial system integrity, reflecting increasing international confidence in its financial intelligence capabilities. Delegates from more than 186 FIUs attended the Baku meeting, discussing emerging financial crime threats, technological innovations, and future intelligence cooperation.