Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
Nigeria has secured one of the highest operational honours in the global financial intelligence community, winning the prestigious United Nations Office on Drugs and Crime-World Bank-Egmont Group Stolen Asset Recovery (StAR) Initiative Award at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units (FIUs) held in Baku, Azerbaijan. The recognition, which affirms Nigeria's growing leadership in the fight against money laundering and illicit financial flows, was awarded for an outstanding financial crime investigation that showcased the effective collaboration between the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).
The award was presented during the plenary, which was attended by the newly appointed President of the Financial Action Task Force (FATF), Mr Giles Thompson, and brought together delegates from more than 186 Financial Intelligence Units worldwide to deliberate on emerging threats, technological innovations, and the future of financial intelligence. The StAR Initiative Award, a joint programme of the United Nations Office on Drugs and Crime and the World Bank, is one of the highest operational honours within the global financial intelligence community, reserved for outstanding cases that demonstrate innovation, international cooperation, operational effectiveness, and measurable impact in tackling money laundering and other serious financial crimes.
Nigeria's winning case highlighted the complementary roles of financial intelligence and law enforcement in combating illicit financial activities. Intelligence generated by the NFIU played a pivotal role in supporting investigations conducted by the EFCC, leading to successful asset recovery and the disruption of illicit financial networks. The case demonstrated how timely financial intelligence, professional analysis, effective inter-agency cooperation, and international collaboration can support successful investigations, asset recovery, and the pursuit of justice. Industry experts noted that the award-winning case underscores the growing importance of collaboration in modern financial crime investigations, particularly as illicit funds move rapidly across borders through increasingly sophisticated channels.
Reacting to the achievement, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the award as a proud moment for Nigeria and a powerful affirmation of the quality, professionalism, and impact of the country's financial intelligence architecture. "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," Bakari said. "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."
Bakari commended the Executive Chairman of the EFCC, Mr Ola Olukoyede, and the Commission's personnel for their unwavering commitment to collaboration and operational excellence, noting that the award reflects the strength of inter-agency cooperation in Nigeria. "I wish to particularly commend the Executive Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, and the dedicated officers of the EFCC for their unwavering commitment to collaboration and excellence. This award affirms 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," she added. She also congratulated the staff of the NFIU and acknowledged reporting entities whose timely submission of financial reports continues to support intelligence gathering and financial crime investigations.
The recognition comes just months after Nigeria successfully exited the Financial Action Task Force (FATF) grey list in October 2025, marking a major turnaround in its global financial credibility. Observers say the award not only validates Nigeria's reforms to strengthen its financial system but also positions the country as a key player in shaping global responses to illicit finance. The Egmont Group, which brings together more than 186 FIUs worldwide, serves as the premier platform for secure intelligence exchange and operational collaboration. Nigeria's recognition at this year's plenary signals increasing confidence among international partners in the country's ability to generate actionable intelligence and translate it into tangible enforcement outcomes.
Bakari noted that the honour is both a celebration and a responsibility, adding that financial crime is becoming increasingly complex, transnational, and technology-driven, and that the award strengthens the country's resolve to continue investing in intelligence-led approaches and deepening cooperation with domestic and international partners. The latest recognition is expected to further enhance Nigeria's standing within the international financial intelligence community and reinforce confidence in the country's capacity to generate actionable intelligence, strengthen inter-agency collaboration, and deliver tangible results in the global fight against illicit financial flows.
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