IGP establishes anti-money laundering units, appoints CP Edozie as national coordinator

In a decisive move to bolster the fight against financial crimes, the Nigeria Police Force has established specialized Anti-Money Laundering Units across the country. Dr. Kayode Adeolu Egbetokun, the Inspector General of Police, announced the appointment of CP Hyacinth Azuka Edozie, a renowned financial expert, to lead the newly formed units.

The Force spokesperson, ACP Olumuyiwa Adejobi, disclosed this initiative in a statement on Wednesday. Adejobi highlighted the strategic importance of the units in enhancing national security and curbing the financing of criminal activities, particularly by terrorist organizations and other criminal entities.

The newly established units will be operational in all State Criminal Investigation Departments (SCIDs), with Chief Superintendents of Police (CSPs) heading the state-level teams. This structure ensures a comprehensive national approach to tackling illicit financial activities.

According to Adejobi: “The establishment of these units underscores the Nigeria Police Force’s commitment to preventing and detecting illicit financial activities that could undermine the country’s stability. It also enhances the operational capacity of law enforcement agencies, including the Nigerian Financial Intelligence Unit (NFIU), to address evolving security threats effectively.”

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As evidence of its intensified efforts, the Nigeria Police Force recently made significant arrests related to counterfeit currency and financial fraud:

December 8, 2024, in Gwale, Kano: Operatives arrested Nura Ibrahim, seizing counterfeit currency amounting to an astonishing N129.5 billion. The breakdown included $3,366,000 in counterfeit U.S. dollars, 51,970 CFA francs, and 1,443,000 counterfeit naira notes. Further investigations led to the apprehension of two accomplices, Muhammed Muntari and Usman Abdullahi.

January 13, 2025, in New Karu, Nasarawa State: A 53-year-old suspect, Ephraim Barde, was caught with $160,000 in counterfeit U.S. dollar notes. Investigations are ongoing to uncover the full extent of his operations and any associated criminal networks.

These arrests, facilitated by intelligence-driven operations, underscore the Force’s resolve to dismantle financial crime syndicates and safeguard Nigeria’s economic environment.

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The Inspector General of Police urged Nigerians to remain vigilant and report suspicious financial activities to the authorities. He emphasized that combating financial crimes is a collective responsibility crucial to national security.

Financial crime analysts have lauded the establishment of the Anti-Money Laundering Units. Dr. Ifeoma Onyekachi, a financial criminologist, remarked:

“This is a commendable step by the Nigeria Police Force. The appointment of a seasoned expert like CP Hyacinth Edozie and the establishment of state-level units indicate a focused approach to tackling money laundering and its ripple effects on national security.”

Similarly, security analyst Adewale Ogundipe noted: “The integration of the police’s efforts with agencies like the NFIU strengthens Nigeria’s position in the global fight against financial crimes. This move will undoubtedly enhance investor confidence in the country.”

The Nigeria Police Force’s proactive measures, including the establishment of the Anti-Money Laundering Units, signal a renewed commitment to safeguarding the nation’s financial system. With CP Hyacinth Edozie at the helm, the Force aims to disrupt criminal financial networks and ensure economic stability for the benefit of all Nigerians.