Ndubuisi Francis in Abuja
The federal government has declared its determination to reinvigorate efforts aimed at tackling the financing of terrorism.
It expressed the administrationâ€™sÂ commitment to the fight against terrorism and cutting off funding for terror activities.
The Minister of Finance, Mrs. Kemi Adeosun, who represented President Muhammadu Buhari at an international conference against the financing of terrorism in Paris, France, said the country was reinvigorating efforts to tackle the financing of terrorism.
The conference, with the theme: â€˜No money for terrorâ€™, was hosted by the French President, Emmanuel Macron and was attended by the Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde; President of the World Bank Group, Jim Kim; US Treasury Secretary, Steven Mnuchin as well as UK Chancellor, Phillip Hammond.
A statement issued by the media aide of the minister, Mr. Oluyinka Akintunde, stated that she told participants that â€œthe Nigerian government is very committed to the fight against terrorism and cutting off funding for terroristsâ€™ activities.
â€œThe government, in addition to monitoring of the formal channels of finance via the Nigeria Financial Intelligence Unit (NFIU) and other bodies, is also monitoring â€˜non-formal cash-based structures,â€™ which can often be used for illicit purposes.â€
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.