NFIU–EFCC Partnership Scores Prestigious Global StAR Award
By Patience Ikpeme
Nigeria’s fight against illicit finance earned international acclaim as the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) were jointly recognized with the UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award at the 32nd Egmont Group Plenary in Baku, Azerbaijan.
The StAR award honours exceptional cases that demonstrate innovation, cross-border cooperation and measurable impact in asset recovery and anti-money laundering operations. Delegates from more than 186 financial intelligence units (FIUs) attended the plenary, which also featured the new FATF President, Mr. Giles Thompson.
The award-winning case showcased how timely financial intelligence from the NFIU, professional analysis and robust inter-agency coordination supported an EFCC-led investigation that resulted in significant operational outcomes and asset recovery. The recognition highlights the complementary roles of intelligence and law enforcement in dismantling illicit financial networks.
Hafsat Abubakar Bakari, Chief Executive Officer of the NFIU, said: “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. The StAR Award demonstrates what is possible when intelligence is effectively analysed, securely shared and transformed into operational outcomes that disrupt illicit networks and recover assets for the public good.”
She added: “It also reflects Nigeria’s contribution to global efforts against money laundering, terrorism financing and other serious financial crimes. While we celebrate, we also recognise this as a responsibility to deepen cooperation and invest further in intelligence-led approaches.”
The NFIU CEO specifically commended EFCC leadership and staff, saying: “I wish to particularly commend the Executive Chairman of the EFCC, 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.”
Mr. Ola Olukoyede, Executive Chairman of the EFCC, welcomed the accolade and credited the result to coordinated domestic and international partnership: “This award underscores the effectiveness of intelligence-led investigations and the importance of strong collaboration between law enforcement, regulators, reporting entities and international partners. We remain committed to pursuing those who launder illicit proceeds and returning assets to the Nigerian people.”
Industry observers say the case underscores a broader trend: modern financial crime requires real-time intelligence sharing, technical expertise and cross-border cooperation to keep pace with rapidly evolving money flows. The Egmont Group’s recognition signals growing confidence among international partners in Nigeria’s capacity to generate high-quality, actionable financial intelligence.
For Nigeria, the award is both symbolic and practical. Beyond the trophy, it validates reforms aimed at strengthening the country’s anti-money laundering and counter‑financing of terrorism framework, and it adds momentum to efforts to improve compliance with international standards.
Bakari extended congratulations to NFIU staff and all reporting entities, highlighting their role in providing timely financial reports that underpin analysis and investigations. “This award is for every unit and reporting entity that supports financial intelligence generation and operational outcomes,” she said.
As FIU leaders discussed emerging threats and technological innovations at the Baku plenary, Nigeria’s achievement stood out as an example of how coordinated domestic action and international cooperation can produce measurable results. The StAR Award reinforces the message that when intelligence is effectively analysed, shared and acted upon, it becomes a powerful tool for protecting the integrity of the global financial system.
Looking ahead, Bakari concluded: “Financial crime is becoming increasingly complex, transnational and technology-driven. This award strengthens our resolve to continue investing in intelligence-led approaches, deepen cooperation with domestic and international partners, and ensure that Nigeria remains at the forefront of efforts to protect the integrity of the global financial system.”
