NFIU pushes new PPP framework to boost financial crime fight, seeks bank/fintech support in Lagos
NFIU urges banks, insurers, fintech firms, VASPs and other financial stakeholders to back a new Public-Private Partnership framework targeting money laundering, terrorist financing and illicit flows. The call came at a Lagos engagement with British High Commission and CBi support, where NFIU's Felix Obiamalu pushed for active involvement in shaping the Joint Financial Intelligence Collaboration (JFIC) initiative.
Obiamalu explained JFIC aims to improve information sharing between government agencies and private operators to better detect and disrupt financial crimes. The event featured Xolisile Khanyile, former Egmont Group Chair, stressing trust and shared ownership as keys to successful partnerships. Participants pledged commitment to protecting Nigeria's financial system integrity and strengthening AML/CFT frameworks.
This push follows NFIU's deployment of its Ilivro financial intelligence software to Guinea-Bissau's CENTIF, which the agency says provides secure electronic receipt, analysis and dissemination of financial intelligence. NFIU, domiciled within CBN, noted in its 2025 Annual Report that tax-related crimes and fraud comprised over 50% of financial crime intelligence reports shared with law enforcement.
The framework represents an effort to deepen public-private collaboration in safeguarding Nigeria's financial sector against evolving threats.
Will you support stronger bank-fintech-regulator collaboration on financial crime if it means safer transactions and reduced fraud in your daily banking?