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Posted By MrCover On January 16th, 2025

The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, has established Police Anti-Money Laundering Units across the country in a strategic move to combat terrorism financing and strengthen national security,

The Force Public Relations Officer, ACP, Olumuyiwa Adejobi in a statement said the initiative aimed to combat financial crimes and prevent illicit financial activities that could undermine the country’s stability.

The PRO disclosed that the new units will be led by renowned financial expert, CP Hyacinth Azuka Edozie, and officers of the rank of Chief Superintendents of Police (CSPs) in all State Criminal Investigation Departments (SCIDs).

He noted that the initiative is a strategic move to strengthen the Police’s role in national security, specifically in combating financial crimes and also critical in countering the sophisticated methods used by terrorist organizations as well as other criminal entities to finance their activities.

Adejobi also observed that the establishment underscores the Force’s commitment to safeguarding national security by preventing and detecting illicit financial activities that could undermine the country’s stability.

“It also enhances the operational capacity of law enforcement agencies, especially the Nigerian Financial Intelligence Unit (NFIU) in furtherance of its global oversight functions, to address various security threats”.

“As a testament to the zeal to curb financial crimes and boost national security, the Police recently made significant arrests in Kano and Nasarawa States. On December 8, 2024, at Gwale, Kano, operatives, acting on credible intelligence, apprehended Nura Ibrahim and discovered counterfeit currency, which included the sum of N129,542,823,000 in counterfeit currencies”

“A breakdown comprised of 3,366,000 in Counterfeit US Dollars, 51,970 in Counterfeit CFA franc, and 1,443,000 in counterfeit Naira. The arrest led to further arrests of accomplices Muhammed Muntari and Usman Abdullahi,” he said.

Similarly, Adejobi revealed that on January 13, 2025, the Force arrested 53-Year-Old Ephraim Barde in New Karu, Nasarawa State, with counterfeit U.S. dollar notes totalling $160,000.

“Following the arrest, further investigations are underway to determine the full scope of Barde’s involvement and identify any accomplices.

“The IGP calls on all citizens to play an active role in national security by reporting suspicious activities related to counterfeit currency and financial crimes,” the statement added.

Source: https://dailypost.ng/2025/01/16/igp-sets-up-anti-money-laundering-units-to-fight-terrorism-financing/