IGP Establishes Police Anti-money Laundering Units
In a move aimed at strengthening the fight against financial crimes, the Inspector-General of Police (IGP), Kayode Adeolu Egbetokun, has announced the establishment of the Police Anti-money Laundering Units within the Nigeria Police Force. These specialized units will be stationed at all State Criminal Investigation Departments (SCIDs) across the country. A renowned financial expert, Commissioner of Police (CP) Hyacinth Azuka Edozie, has been appointed to lead the units, with officers of the rank of Chief Superintendents of Police (CSPs) designated to support the initiative.
The IGP emphasized the importance of public participation in securing the nation’s financial integrity, urging all citizens to report suspicious activities related to counterfeit currency and financial crimes. He stated that the formation of these units reflects a strategic effort to bolster the Police’s role in national security, particularly in the combat against financial crimes.
Strategic Move to Combat Financial Crimes
While the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) are already tasked with investigating financial crimes, the creation of the Police Anti-money Laundering Units is seen as a complementary move to strengthen law enforcement’s capacity in addressing complex financial offenses.
The IGP’s spokesperson explained that the specialized units would focus on detecting and preventing illicit financial activities, including those used by terrorist organizations and criminal entities to fund their operations. The new units are also designed to enhance collaboration with other law enforcement bodies, including the Nigerian Financial Intelligence Unit (NFIU), to address evolving security threats.
“The establishment of the Police Anti-money Laundering Units underscores our commitment to national security by preventing and detecting illicit financial activities that could undermine the country’s stability,” the spokesperson stated.
Recent Successes in Combating Financial Crimes
The Nigeria Police Force has recently made notable arrests in the ongoing battle against counterfeit currency and financial crimes. On December 8, 2024, operatives in Gwale, Kano, apprehended Nura Ibrahim after uncovering counterfeit currencies totaling N129,542,823,000. This included $3,366,000 in counterfeit U.S. dollars, 51,970 counterfeit CFA francs, and 1,443,000 in counterfeit Naira. The operation also led to the arrest of accomplices Muhammed Muntari and Usman Abdullahi.
Additionally, on January 13, 2025, police arrested Ephraim Barde, 53, in New Karu, Nasarawa State, for possessing $160,000 in counterfeit U.S. dollar notes. Further investigations are ongoing to ascertain the full scope of Barde’s activities and identify any potential accomplices.
These operations demonstrate the Police Force’s growing role in combating financial crimes, which is essential for maintaining a stable financial environment and safeguarding the country’s economic security.
Commitment to National Security
The IGP reiterated that the creation of the Anti-money Laundering Units is part of the Nigeria Police Force’s broader strategy to curb financial crimes and enhance national security. By targeting illicit financial flows, the force aims to foster a secure economic environment, contributing to the overall safety and well-being of Nigerians.
Through these efforts, the IGP emphasized that the Police are committed to ensuring the integrity of the nation’s financial system while combating the security threats posed by financial crimes and counterfeiting.
