EFCC Chairman urges Oyo to enact law against terrorism financing

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged the Oyo State Government to enact a law regulating the registration and operations of non-profit organisations (NPOs) to prevent their exploitation for terrorism financing.

Mr Olukoyede said such legislation would strengthen regulatory requirements and monitoring mechanisms for NPOs, reducing the risk of the sector being used as a conduit for financing terrorism in Oyo State and Nigeria.

He made the call through the Lagos Zonal Coordinator of the Special Control Unit Against Money Laundering (SCUML) and Team Lead of the 2026 National Terrorism Financing Risk Assessment delegation for the NPO sector in South-west Nigeria, Ibinabo Amachree.

The call was made during a three-day risk assessment exercise that began on 1 September in Ibadan.

The exercise focused on data collection, engagement with Oyo State ministries, departments and agencies, security agencies and sensitisation of NPOs on terrorism financing risks within the sector.

Mr Olukoyede said there was an urgent need for legislation to ensure stringent registration, monitoring and supervision of NPO activities.

He said this would help prevent the diversion of humanitarian aid and donations towards terrorism financing.

The EFCC chairman also linked the need for stronger safeguards to recent kidnapping incidents across the South-west, describing the risk assessment as necessary to address emerging security threats.

Government support

Mr Olukoyede commended the Oyo State Government and security agencies for supporting the exercise.

He also urged NPOs to continue complementing government efforts in providing basic social services, humanitarian assistance, healthcare and support for vulnerable populations.

He encouraged organisations operating in the state to use the sensitisation programme to strengthen safeguards around their activities and resources.

The EFCC chairman assured stakeholders of the commission’s continued support in tackling terrorism financing in Nigeria.

Representing the Oyo State Acting Governor, Bayo Lawal, the Secretary to the State Government, Musibau Babatunde, pledged the state’s continued cooperation with the EFCC and other agencies involved in the national risk assessment.

Mr Babatunde said terrorist groups were increasingly exploiting crowdfunding, humanitarian interventions and informal financial channels to raise and move funds.

He said the administration of Governor Seyi Makinde would take necessary steps to ensure that NPOs were not exploited for terrorism financing in the state.

Security agencies pledge cooperation

The Director of the Department of State Services (DSS), Oyo State Command, Usman Biu, said the exercise was important to strengthening efforts against terrorism financing.

Mr Biu said the command would continue working with the Oyo State Ministry of Women Affairs, which engages with NPOs in the state.

He added that lists of registered non-governmental organisations forwarded to the command are profiled, vetted and cleared before they commence operations, in line with the DSS mandate.

Representing the General Officer Commanding (GOC), 2 Division, Nigerian Army, Auwalu Mahnuda, the Chief of Staff to the GOC, Brigadier General M.I. Falana, commended the EFCC for involving relevant stakeholders in the exercise.

He said combating terrorism financing required collaboration beyond the EFCC and pledged continued military support through timely information sharing.

Assessment concludes

The three-day exercise ended on 3 September with NPOs from Lagos, Osun and Oyo states converging in Ibadan for sensitisation on compliance with existing regulations and the need to maintain public trust in legitimate charitable activities.

The EFCC said the risk assessment demonstrates the Federal Government’s commitment to risk-based supervision and Nigeria’s resolve to remain aligned with international standards in combating terrorism financing.

The 2026 national risk assessment team comprises representatives of the EFCC, international and local non-governmental organisations, as well as state and federal ministries, departments and agencies.