The Economic and Financial Crimes Commission (EFCC) is urging governments and civil society groups throughout Africa to unite against terrorist financing. The commission emphasizes the need to shield legitimate charities from excessive oversight. EFCC Chairman Olanipekun Olukoyede stated that Financial Action Task Force (FATF) Recommendation 8 should be applied using specific, risk-based strategies instead of broad mandates that hamper non-profit operations.
Representing Olukoyede at the 3rd Africa High-Level Civil Society AML/CFT Conference in Abuja, Harry Erin highlighted that threats like violent extremism and illicit financial flows endanger regional stability. He noted that Nigeria utilized a collaborative framework between agencies like the NFIU and the Corporate Affairs Commission to perform a precise risk assessment. This approach allows officials to spot vulnerabilities while ensuring humanitarian work continues unimpeded.
Victoria Ibezim-Ohaeri, head of Spaces for Change, pointed out that a decade of advocacy has turned a formerly strained relationship between regulators and civil society into a productive partnership. This cooperation led to the removal of non-profit organizations from certain restrictive reporting mandates in the Money Laundering Act. Consequently, Nigeria has achieved a positive compliance rating from the FATF.
United Nations expert Professor Ben Saul praised Nigeria for meeting international standards by late 2025. He warned, however, that many nations still impose burdensome audits and reporting requirements on charities. Saul cautioned that such over-regulation drains vital resources and hampers humanitarian missions, urging countries to adopt proportionate measures that respect human rights while addressing security concerns.
