Nigeria’s Oil and Gas Free Zones Authority (OGFZA) has resolved to go into collaboration to further entrench transparency to attract more valued investors into Nigeria.
The Managing Director of OGFZA, Mr Bamanga Usman Jada, and some members of his management visited the Director of Nigerian Financial Intelligence Unit (NFIU), Hajiya Hafsat Abubakar Bakari, where they agreed to collaborate.
NFIU is the central coordinating body responsible for receiving, requesting, analyzing and disseminating financial intelligence reports on money laundering, terrorism financing and other relevant information to law enforcement, security, intelligence and related authorities in Nigeria.
The level of determination, intelligence, drive and commitment to ensure that Nigeria does not become a safe haven for global money laundering and terrorism financing networks, already indicates that the NFIU will record much more achievements under the able leadership of Hajiya Hafsat Abubakar Bakari.
So far, the Unit has worked very hard to improve the Investor Attractiveness Ranking and Investment Rating of Nigeria by blocking revenue leakages which resulted in a significant increase in the country’s revenue, improvement in Nigeria’s image internationally, and the restoration of global investor confidence in Nigeria’s economic reforms and the Renewed Hope Agenda of President Bola Ahmed Tinubu’s Government.
This success story of the NFIU has minimized money laundering activities through their Crime Record Information System (CRIMS) and has therefore led to a boost in government revenue at the federal level and across 18 States of the federation.
Speaking during the visit, the OGFZA boss, Jada congratulated Hajiya Bakari on her well-deserved appointment as Director/CEO of NFIU, expressing strong optimism on her ability to transform the Unit to an enviable position in the International Financial Intelligence circles.
Assuring of the Authority’s readiness and unwavering commitment to support the NFIU in achieving its mandate, Jada stated that OGFZA is a regulatory agency of government saddled with the responsibility to administer, regulate and manage activities of businesses within the nation’s oil and gas free zones.
The NFIU boss pledged to work closely with the Authority to ensure the effective implementation and verification of relevant critical regulations. The collaboration will include joint sensitization and training exercises by both Agencies aimed at strengthening anti-money laundering (AML) and counter-terrorism financing (CFT) measures.
In conclusion, NFIU boss noted that the Authority’s involvement in AML/CFT will contribute in safeguarding the integrity of the oil and gas sector activities within Nigeria’s free zones, thereby ensuring that the Oil and Gas Free Zones are not exploited for illicit financial activities.
OGFZA
