Abuja and Ottawa Strengthen Cooperation to Combat Illicit Financial Crime
Abuja, Nigeria / Ottawa, Canada – February 28, 2025
In a significant move to combat illicit financial activities, Nigeria and Canada have agreed to enhance bilateral cooperation in tackling money laundering, terrorism financing, and other financial crimes.
Top officials from both countries met in Abuja this week to discuss new strategies for intelligence sharing, financial tracking, and policy alignment. The meeting, which brought together representatives from Nigeria’s Economic and Financial Crimes Commission (EFCC) and Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC), focused on leveraging technology and joint investigations to dismantle criminal networks operating across borders.
Nigeria’s Minister of Justice, Yusuf Buba, emphasized the importance of international collaboration in fighting financial crime. “Illicit financial flows weaken economies and fuel corruption. Strengthening our partnership with Canada is a step forward in ensuring financial transparency and accountability,” he said.
Canada’s Minister of Public Safety, Dominic LeBlanc, echoed similar sentiments, stating that the collaboration would enhance both countries’ efforts in tracking suspicious financial transactions and prosecuting offenders. “Global crime requires global solutions. By working together, we can disrupt illegal financial networks that threaten our economies and security, LeBlanc said.
Both nations are expected to sign a Memorandum of Understanding (MoU) in the coming months to formalize their commitment to data exchange, capacity building, and policy development.
Financial crime experts say this partnership could set a precedent for stronger international cooperation in combating illicit financial flows, particularly in regions prone to corruption and organized crime.
