The Federal Government has urged African countries to adopt a risk-based approach in implementing the Financial Action Task Force (FATF) Recommendation 8, warning that excessive regulation of non-profit organisations could hinder humanitarian work without effectively tackling terrorism financing.
The call was made on Wednesday at the 3rd Africa High-Level Civil Society Anti-Money Laundering and Counter Financing of Terrorism Conference held in Abuja.
Representing EFCC Chairman Ola Olukoyede, Director of the Special Control Unit Against Money Laundering, Harry Erin, said FATF Recommendation 8 requires countries to identify only non-profit organisations genuinely vulnerable to terrorist financing and apply proportionate regulatory measures.
He noted that Nigeria’s collaboration with the Nigerian Financial Intelligence Unit, Office of the National Security Adviser, Corporate Affairs Commission and civil society groups enabled evidence-based risk assessments that reduced unnecessary regulatory burdens on legitimate charities.
United Nations Special Rapporteur Ben Saul commended Nigeria’s compliance with FATF standards since late 2025 but cautioned against using anti-terror financing regulations to suppress civil society organisations.
He warned that excessive registration, reporting and monitoring requirements could divert resources from humanitarian work while prompting banks to deny financial services to charities.
Stakeholders said Nigeria’s reforms demonstrate that stronger anti-money laundering systems can coexist with the protection of legitimate humanitarian and civil society activities across Africa.