No fewer than 1,088 suspects connected to various financial crimes were arrested in separate operations conducted in 2024.
These operations also led to the recovery of $11.45 million and N142.26 billion, according to a statement issued on Tuesday by the Force Public Relations Officer, Olumuyiwa Adejobi.
Adejobi explained that the arrests and recoveries were part of Nigeria’s ongoing efforts to address its placement on the Financial Action Task Force (FATF) grey list.
He stated, “In February 2023, Nigeria was placed on the FATF grey list, designating the country as a high-risk jurisdiction for money laundering and terrorism financing.
“In response, the Nigeria Police Force has taken proactive measures to address these challenges by establishing specialised units, including the Special Anti-Fraud Unit, the National Cybercrime Centre, and the newly launched Anti-Money Laundering Unit.
“Over the past year, these units have achieved significant results in combating financial crimes, leading to the arrest of 1,088 suspects, securing
152 convictions, and recovering a total of $11.45 million and N142.26 billion.”
The National Cybercrime Centre played a crucial role, accounting for 751 cybercrime-related arrests and the recovery of N8.82 billion, $84,000, and 115,237.91 USDT.
Adejobi highlighted a major success with Operation Butterfly Net, which targeted a cyberattack on Flutterwave. The operation resulted in the arrest of 179 suspects involved in laundering over N11 billion.
He added, “The establishment of the Anti-Money Laundering and Countering the Financing of Terrorism Sections has
financial investigations. Additionally, over 2,000 officers across various units have received training in money laundering and terrorism financing investigations, underscoring the Force’s commitment to improving Nigeria’s global standing in the fight against financial crimes.”