The evaluation of the antimoney laundering aml and combating the financing of terrorism cft regime of the federal republic of nigeria was based on the forty recommendations 2003 and the nine special recommendations on terrorist financing, 2001 of the financial action task force, and was prepared using the amlcft methodology, 20041. The boards of the world bank and the international monetary fund have recognized these recommendations as the appropriate standard for combating money laundering and the financing of terrorism and, in consequence, have intensified their work in this area. Fatf report financing of recruitment for terrorist purposes. Sudans vast, mostly unmonitored borders with libya, chad, the central african republic, south sudan, ethiopia, and. Nigeria has in recent times been labeled as one of the most corrupt countries in the world with money laundering being one of the. Apr 30, 2018 building on the international convention for the suppression of the financing of terrorism 1999, security council resolution 73 2001, calls on states to prevent and suppress the financing of. Nigeria and the victory over terrorist financing stears.
The boko haram terrorist group in nigeria, for example, recruits some of its members from the lower north central states of the country, far away from the conflicts in the north. This is against the backdrop of the rising spate of violent attacks. Improving the understanding of recruitment financing can also assist in the early detection, investigation and prosecution of recruiters or the adoption of targeted financial sanctions, both at a domestic and international level. Introduction terrorism prevention act, 2011 terrorism has continued to threaten global peace and prosperity. They can use formal financial systems or unregulated channels, or simply move money across borders in cash. Oct 02, 2018 the effort to provide nigeria with a comprehensive legal framework for combating terrorism was formalized with the introduction of the terrorism prevention act on february 17, 20. Official corruption, unemployment, poverty, terrorism, contemporary nigeria, marxism.
An act to amend the terrorism prevention act, 2011 by providing for extraterritorial application of the act and strengthening of terrorist financing offences. To address this criminal activity, governments all over the world, including the nigerian government, have passed into law various legislation making terrorism very serious global criminal offences. Central bank of nigeria financial policy and regulation department central business district p. Nigeria has in recent times been labeled as one of the most corrupt countries in the world with money laundering being one of the major. Mar 15, 2017 importantly, there is an annual amlcft anti money laundering and combating financing terrorism employee training programme report filed to the cbn and nfiu nigeria financial intelligence unit. Combating the financing of terrorism cft definition. Here you will see the meaning, causes, effects and possible ways to combat it in nigeria.
Terrorists are very likely to try to carry out attacks in nigeria. It comprises not only the financing of the terrorist acts as such, but also any support to the criminal network. It amended the countrys first counterterrorism law, which was passed in 2011. Pdf compendium of all lawscategories also available email. Jacob omede andrew abdul omede department of educational psychology, kogi state college of education, p. The european commission added saudi arabia, panama, nigeria and other jurisdictions to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money. Ionas, a financing terrorism by means of drug trafficking university of brasov. Commencement enacted by the national assembly of the federal republic of nigeria 1. Terrorist financing united nations office on drugs and crime.
Eu adds saudi arabia to list of terrorfunding countries. These countries were selected based on the prevailing incidences of terrorism or its effects on them compared to other giaba member states. Moral, values and religious education as panaceas dr. Review of literature 1 money laundering and financing of terrorism money laundering and financing of terrorism have been topics of great concern to the world leaders, in other words the highest authorities in the world, not only as serious and highly sophisticated forms of crime but also as threats to human rights, democracy and the rule of law. Download pdf back to top trafficking in persons prohibition act 2005 as amended. The group receives some training and financial support from external extremist groups to propagate its focoist strategy of utilizing urban terrorism to promote its aims and objectives.
Science arena publications specialty journal of psychology and management available online at. Terrorism is defined as calculated, politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine agents, usually intended to influence an audience. Laundering prohibition act of 2004, laws of nigeria thesis. The contemporary nigeria has become a theatre of genocide, bloodshed and insecurity over the past three years due to the carnage activities of terrorist groups. The activitiesboko haram in nigeria have led to negative reactions from groups and nations that have been affected by its activities in the country thereby leading to deterioration of. Sudan is generally responsive to international community concerns about counterterrorism efforts. Terrorism financing united nations security council counter. The largest improvement occurred in nigeria where terrorism. By jacob zenn in july 2014, cameroons defense ministry announced that boko haram1 was a growing threat in the lake chad region and now has approximately 15,000 to 20,000 members. Counterterrorism a new approach the international convention for the suppression of the financing of terrorism anthony aust1 on 10 january 2000 at united nations headquarters in new york the international convention for the suppression of the financing of terrorism2 was opened for signature. Growth and fiscal consequences of terrorism in nigeria 1 chuku chuku, dominic abang, and imaabasi isip jel codes.
We call upon countries to address all alternative sources of financing of terrorism, including dismantling connections, where they exist, between terrorism and transnational organized crime. Treasurys terrorism and financial intelligence branch did just that to address alqaeda financing after 911, and it did so in an even more substantial way in 20052006 when it developed tools and strategies to contend with irans illicit financial conduct, support for terrorism, and nuclear proliferation. Terrorist financing in west and central africa fatf. The article discussed some of the features of new wars that are relevant to the terrorism activities perpetrated by these two groups.
Nigeria as well as identify the most vulnerable sectors used in facilitating the. Anglophone west africa region the gambia, ghana, nigeria, and sierra leone public disclosure authorized public disclosure authorized public disclosure authorized public disclosure authorized. Terrorism is a grave threat to any nations growth and development, as well as the welfare of its citizens. Terrorism financing united nations security council. The above are all of general application, with none specifically applicable to lawyers, who have been excluded from the definition of dnfis in the money laundering prohibition act, 2011. Pdf the study aims to provide information on terrorist financing methods to assist competent authorities and reporting entities in their. Improving the understanding of recruitment financing can also assist in the early. Importantly, there is an annual amlcft anti money laundering and combating financing terrorism employee training programme report filed to the cbn and nfiu nigeria financial intelligence unit. Nigeria to enhance antimoney laundering and combating the financing of terrorism regime.
The financing of terrorism per unscr 73 2001 was criminalized in sudan pursuant to sudans money laundering act of 2003. Nigeria terrorism prevention act 2011 the nigerian blawg. The rise of terrorism in nigeria owing to the rise of islamic fundamentalism in northern nigeria has greatly washed out the countrys foreign policy drive. Building on the international convention for the suppression of the financing of terrorism 1999, security council resolution 73 2001, calls on states to prevent and suppress the financing of. To address this criminal activity, governments all over the world, including the nigerian government, have passed into law various legislation making terrorism very.
An overview of the nigerian defense policy and the. This act has been amended by the terrorism prevention amendment act, 20. Response congressional research service summary the united states government has implemented a range of programs to counter violent extremist threats in east africa in response to al qaedas bombing of the u. It discussed terrorism as a manifestation of new wars on the african continent and cited two of africas prominent terrorist groups, nigerias boko haram and somalias alshabaab. Boko haram continues to drive terrorism threat in northern. The effort to provide nigeria with a comprehensive legal framework for combating terrorism was formalized with the introduction of the terrorism prevention act on february 17, 20. This article is useful for curious knowledge seekers, researchers as well as policymakers in nigeria. Oct 07, 2019 combatting the financing of terrorism cft is focused on restricting the movement of funds to terrorist organizations and may focus on a variety of entities, such as banks, charities, and. The danger of international environment pose to nigeria also fuels terrorism. This study is focused on examining the spinoff of terrorism in nigeria as it reins in industrial. For instance, to ensure documentary trail of all proceeds of money generated from all activities. Nigeria has made noticeable progress in form of legislation and enforcement of aml activities. Terrorism activities take place in many different forms ranging from isolated acts to planned activities of organised groups. For a relevant period identified by the cbn, banks have to show that senior officers have been adequately trained on the terrorist financing issues.
Senegal, to carry out a background study on terrorism and terrorist financing in their countries. Financing terrorism vulnerabilities terrorists and terrorist groups have many methods at their disposal to move funds around the world. Groups, activities, and politics adeyemi bukola oyeniyi abstract while global attention is focused on embassy bombing, aircraft hijacking and 911 terroristsattack kind of terrorism, equally devastating terrorist activities with equally devastating impacts are daily swept under the carpet in africa. Groups, activities, and politics adeyemi bukola oyeniyi abstract while global attention is focused on embassy bombing, aircraft hijacking and 911 terroristsattack kind of terrorism, equally devastating terrorist activities with equally devastating.
Furthermore, such states also offer the possibility of financing terrorism through the exploitation of natural wealth. Cbn antimoney laundering and combating the financing of terrorism administrative sanctions regulations, 2018 pursuant to the requirements of the financial action task foce fatf. Antimoney laundering and combating the financing of. Antimoney laundering and combating the financing of terrorism. Central bank of nigeria antimoney laundering and combating the financing of terrorism in banks and other financial institutions in nigeria regulations. Great powers like america, britain and russia are spreading their tentacles and ideology to entrench themselves into nigerian economy and take total control. Terrorism in africa the decision by the pentagon to create a separate africa command is the clearest indication that the us military and other branches of the us government view subsaharan africa as a. It may not be surprising if any of these rivalries is financing terrorism to break nigeria for its own advantage. The threat from boko haram and ansaru the henry jackson society 4 about the authors olivier guitta is the director of research at the henry jackson society, responsible for setting the strategic agenda for the research department and overseeing the societys academic focus, as well as conducting his. Combatting the financing of terrorism cft is focused on restricting the movement of funds to terrorist organizations and may focus on a variety of entities, such as banks, charities, and.