Kemi Adeosun, Nigeria's Minister of Finance, has said that the country is committed to blocking funding for terrorists. She said this at an international conference against the funding of terrorism in Paris, the French capital.
Adeosun, who was representing President Muhammadu Buhari, said the country was improving in its tackling of funding for terrorist activities.
“The Nigerian Government is very committed to the fight against terrorism and cutting off funding for terrorists’ activities.
“The Government, in addition to monitoring of the formal channels of finance via the Nigeria Financial Intelligence Unit (NFIU) and other bodies, is also monitoring ‘non-formal cash-based structures’, which can often be used for illicit purposes,” she said.
Adeosun emphasised the need to address the root cause of terrorism and not the symptoms. She disclosed that the men and officers of the Nigeria Customs Service were working to effectively track physical cash movements and transactions at the various borders, including Niger, Benin Republic and Cameroon.
The Conference, which had as theme “No money for terror”, was hosted by the French President, Emmanuel Macron and was attended by the Managing Director of the International Monetary Fund, Christine Lagarde; President of the World Bank Group, Jim Kim; US Treasury Secretary, Steven Mnuchin as well as UK Chancellor, Phillip Hammond.