UK hails productive partnership with CBN, NFIU, EFCC in tracking illicit financial flow

The United Kingdom has expressed happiness at a productive collaboration with the Central Bank of Nigeria (CBN) and other Nigerian agencies to track illicit financial flows

The other agencies are the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC).

The British High Commissioner to Nigeria, Richard Montgomery, spoke at a policy conversation on the state of anti-corruption in Nigeria, organised by Agora Policy in Abuja on Tuesday.

Montgomery reaffirmed the UK Government’s commitment to working with Nigerian authorities in tackling corruption.

He pointed to the partnership between the UK’s National Crime Agency and Nigerian agencies in the efforts to track illicit financial flows and recover corrupt assets, especially where they touch UK jurisdiction.

“We have a productive relationship under the present leadership with the Central Bank of Nigeria and the Nigerian Financial Intelligence Unit on tracking illicit flows. We try to go up after illicit financial flows and corrupt assets where they touch from UK jurisdiction,” he said.

Also speaking at the event, World Bank County Director for Nigeria, Dr Ndiamé Diop, noted that inaccurate data at the Federal Government level is a major hurdle in preventing the timely and automatic generation of fiscal data.

The World Bank Country director was represented by Deborah Isser, who is a Lead Governance Specialist at the bank.

In a keynote address, Prof Adele Jinadu, a Professor of Political Science, said anything short of a holistic approach when addressing corruption in Nigeria would amount to a waste of time.

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