The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has warned non profit organisations across Nigeria to guard against infiltration by terrorist networks seeking to exploit the sector to finance terrorism.
Olukoyede gave the warning in Abuja at the launch of the National Terrorist Financing Risk Assessment for non profit organisations.
Speaking through his Chief of Staff, Michael Nzekwe, the EFCC boss acknowledged the important role of non profit organisations in Nigeria’s socio economic development.
He said many of the organisations provide humanitarian support, assist vulnerable groups, promote education and healthcare, and help government deliver essential social services.
Olukoyede noted that the sector is recognised globally by the Financial Action Task Force, but warned that without proper safeguards it could be vulnerable to abuse for terrorist financing.
He added that non profit organisations contributed to Nigeria’s exit from the FATF grey list in 2025 and stressed the need to protect the integrity of the sector to maintain public trust and strengthen national security.
According to him, the risk assessment will provide an evidence based understanding of the nature and scale of terrorist financing threats within the sector and guide the development of stronger regulatory and supervisory measures.
Also speaking at the event, Abubakar Atiku Bagudu commended the EFCC and the Special Control Unit Against Money Laundering for bringing together civil society groups to address the risks of money laundering and terrorist financing.
Bagudu called for stronger collaboration and knowledge sharing between government and civil society to improve transparency and financial integrity.
Meanwhile, the Director of the Special Control Unit Against Money Laundering, Harry Erin, said the new assessment will evaluate changes in the terrorist financing risk profile of the non profit sector since the last review in 2023.
He added that the findings will help refine the existing risk based supervisory framework in line with current developments in the sector.
