The National Insurance Commission (NAICOM) and the Nigerian Financial Intelligence Unit (NFIU) are bolstering efforts to ensure robust financial regulations and safeguard the integrity of Nigeria’s economic system. This commitment was highlighted during a visit by the NFIU management team, led by Chief Executive Officer Hafsat Abubakar Bakari, to the NAICOM headquarters in Abuja.
Welcoming the NFIU team, Olusegun Ayo Omosehin, Commissioner for Insurance and CEO of NAICOM, expressed his gratitude for the ongoing collaboration. He acknowledged the significant benefits NAICOM has gained from this partnership, particularly in enhancing compliance with financial regulations.
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Omosehin praised the NFIU for their coordination and the progress made by institutions in meeting the Financial Action Task Force (FATF) requirements, ensuring adherence to Anti-Money Laundering and Counter Financial Terrorism (AML/CFT) standards.
Bakari emphasized the critical role of the NFIU as the central national agency responsible for receiving, analyzing, and disseminating financial intelligence to competent authorities. She highlighted the purpose of the engagement, which is to gather feedback on enhancing collaboration with various financial agencies. This effort aims to remove Nigeria from the grey list and establish a sustainable and effective AML/CFT framework.
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The meeting underscores the importance of inter-agency cooperation in strengthening Nigeria’s financial system and ensuring compliance with international financial standards.
