The Economic and Financial Crimes Commission (EFCC) and the Nigerian Army Intelligence Corps (NAIC) have agreed to significantly deepen their collaboration to combat terrorist financing and other financial crimes threatening Nigeria’s national security.

This commitment was solidified on yesterday during a courtesy visit by the Chief of Military Intelligence, Major General Aliyu Abbas Idris, and other NAIC officers to the EFCC’s Corporate Headquarters in Abuja, where they met with Executive Chairman Ola Olukoyede.

Major General Idris initiated the visit to strengthen existing ties and explore new avenues of cooperation.

He stressed the shared mandate between the EFCC and the military in the national security architecture, noting that the sustained fight against terrorism requires a unified approach.

Idris highlighted the remarkable progress made in containing Boko Haram, which is now largely confined to specific areas in the Northeast after 16 years of conflict. However, he expressed concern over the terrorists’ resilience, identifying external funding as a key factor.

“You wonder how a non-state actor has been waging war with a strong nation like Nigeria for 16 years and counting. That tells you there is funding somewhere,” Idris noted.

Crucially, the Army Intelligence Chief revealed that recent intelligence indicates terrorists have shifted their funding models to trade-based processes. 

He emphasized that the Army lacks the EFCC’s specialized capacity and training to effectively trace and dismantle these complex financial networks, making joint efforts essential. 

He proposed a joint research initiative to study and dismantle these financial pipelines.

EFCC Chairman Ola Olukoyede welcomed the visit as timely and essential.

He stressed that the fight against insurgency is not for a single agency and underscored the importance of security and law enforcement agencies strengthening their synergy.

Olukoyede assured the NAIC delegation of the Commission’s full support in intelligence sharing and operational assistance.

“Rest assured, sir, that we are going to give you all the necessary support. There’s a need for us to exchange intelligence from time to time, compare notes,” Olukoyede pledged, concluding that collaboration among security institutions is vital to fulfilling the mandate entrusted to them by President Bola Ahmed Tinubu.