The Nigerian Financial Intelligence Unit has commenced plans to establish a Joint Financial Intelligence Collaboration framework aimed at strengthening financial intelligence sharing between public and private sector institutions.
The proposed framework is expected to enhance collaboration among regulators, banks, insurance companies, fintechs, Virtual Asset Service Providers, technology firms and other stakeholders in identifying emerging financial threats and disrupting illicit financial networks.
The NFIU in a statement released on Thursday said the initiative was discussed at a high-level stakeholder engagement organised by the NFIU with the support of the British High Commission, Nigeria, and the Convention for Business Integrity.
“Nigeria has taken a significant step towards enhancing the integrity and resilience of its financial system, as the NFIU brought together leading stakeholders to help shape a new framework for financial intelligence sharing.
“The initiative seeks to create a trusted platform through which public and private-sector institutions can work together more effectively to identify emerging threats, disrupt illicit financial networks and strengthen the integrity of Nigeria’s financial system, “the statement partly read.
