Oyo partners EFCC to combat terrorism financing

The Oyo state government is to partner with the Economic and Financial Crimes Commission (EFCC) to combat terrorism financing.

This was made public Wednesday by the acting governor of the state, Bayo Lawal, at a capacity-building workshop on awareness, intelligence gathering, and institutional response to emerging threats linked to illicit financial flows held at the Western Hall, Secretariat, Agodi, Ibadan.

Represented by the Secretary to the State Government, Prof. Musibau Babatunde, the acting governor said the present administration in the state is committed to safeguarding lives and property by strengthening collaboration with security agencies and relevant stakeholders.

He added that Oyo state government has intensified partnership with the Economic and Financial Crimes Commission (EFCC) to prevent the exploitation of humanitarian funding platforms and other financial channels for terrorism financing and criminal activities.

He stated that the evolving security situation in the South-west, particularly recent incidents of kidnapping, underscores the need for stakeholders to adopt stronger measures against unconventional threats.

Barrister Lawal noted that criminal networks are increasingly deploying sophisticated methods to raise and move funds, including misuse of crowd funding platforms, humanitarian interventions, NGOs and informal financial systems.

The acting governor said, “Humanitarian assistance remains critical to supporting vulnerable communities, there is a need for improved regulatory frameworks, proper documentation, and effective monitoring to ensure such platforms are not hijacked by individuals or groups with criminal intentions”.

He stated that strengthening financial intelligence and enhancing coordination among government agencies will be pivotal in disrupting criminal networks and urged participants from relevant Ministries, Departments, and Agencies (MDAs) to deepen their understanding of terrorism financing trends and develop proactive strategies for early detection and prevention.