Oyo Partners EFCC To Block Terrorism Funding

Oyo State Government has partnered the Economic and Financial Crimes Commission (EFCC) to strengthen their collaboration to prevent the exploitation of financial channels, including humanitarian funding platforms, for terrorism financing and other criminal activities.

The Acting Governor of the state, Chief Bayo Lawal, stated this at a capacity-building workshop on awareness, intelligence gathering and institutional response to emerging threats linked to illicit financial flows, held at the Western Hall, Secretariat, Agodi, Ibadan.

Lawal, who was represented by the Secretary to the State Government, Prof. Musibau Babatunde, said the administration remained committed to safeguarding lives and property through stronger collaboration with security agencies and other relevant stakeholders.

He said the evolving security situation in the South-West, particularly recent incidents of kidnapping, required stakeholders to adopt more effective measures against unconventional threats

In his assertion, criminal networks are increasingly adopting sophisticated methods to raise, move and conceal funds, including the misuse of crowdfunding platforms, humanitarian interventions, non-governmental organisations and informal financial systems.

He therefore said that while humanitarian assistance remained critical to supporting vulnerable communities, stronger regulatory frameworks, proper documentation and effective monitoring were necessary to prevent such platforms from being hijacked by individuals or groups with criminal intentions.

“While humanitarian assistance remains critical to supporting vulnerable communities, there is a need for improved regulatory frameworks, proper documentation, and effective monitoring to ensure such platforms are not hijacked by individuals or groups with criminal intentions,” he said.

The Acting Governor stressed that stronger financial intelligence and improved coordination among government agencies would be critical to disrupting criminal networks and preventing illicit funds from being channelled into criminal activities.

He urged participants from Ministries, Departments and Agencies (MDAs) to deepen their understanding of emerging terrorism-financing trends and develop proactive strategies for early detection and prevention.

Lawal also called for the establishment of dedicated desks in MDAs to facilitate intelligence sharing, monitor suspicious financial activities and ensure prompt responses to emerging security threats.