Rev. Ugolor Welcomes Nigeria-UK Security Dialogue, Urges Focus on Stolen Asset Recovery

From Femi Oyelola, Kaduna

The Africa Network for Environment and Economic Justice, ANEEJ, has welcomed the renewed commitment by the governments of Nigeria and the United Kingdom to deepen bilateral cooperation on security, counterterrorism, cybersecurity, intelligence sharing, fraud prevention, and the fight against illicit finance.

The commitment was reaffirmed during the Fourth UK-Nigeria Security and Defense Partnership Dialogue.

In a statement issued by ANEEJ and made available to the media in Kaduna, its Executive Director, Rev. David Ugolor, said the renewed partnership comes at a critical time when both countries face increasingly sophisticated threats from organized crime, terrorism financing, cyber-enabled financial crime, human trafficking, illicit financial flows, and corruption.

“The renewed commitment by Nigeria and the UK to strengthen security and defense cooperation is timely and commendable. However, security cooperation must go beyond conventional policing and defense. It must deliberately target the financial systems, corporate structures, criminal networks, and illicit wealth that enable insecurity, corruption, terrorism financing, and organized crime to thrive,” Ugolor stated.

ANEEJ noted that these threats transcend national borders and therefore require stronger international cooperation, intelligence-led law enforcement, coordinated financial investigations, effective prosecution, judicial collaboration, and transparent asset recovery mechanisms.

According to the organization, both governments should invest additional political, technical, and financial resources to strengthen collaboration among law enforcement, financial intelligence, prosecutors, and judicial institutions.

ANEEJ emphasized that enhanced cooperation between agencies responsible for fighting money laundering, terrorism financing, cybercrime, corruption, and organized criminal networks will significantly improve the ability of both countries to detect, investigate, prosecute, confiscate, and recover the proceeds of crime.

“We particularly welcome the inclusion of illicit finance within the broader security agenda. Financial crime is not merely an economic issue; it is a major enabler of insecurity, violent extremism, organized crime, illegal mining, environmental crimes, corruption, and state capture. Breaking the financial lifelines of criminal organizations remains one of the most effective strategies for improving national, regional, and international security,” Ugolor added.

The organization further stated that the upcoming UK Summit on Illicit Financial Flows, along with the UK’s leadership role within the Financial Action Task Force, presents a unique opportunity for Nigeria and the UK to establish an ambitious framework for combating illicit financial flows.

ANEEJ urged both governments to seize this opportunity to develop innovative mechanisms for asset tracing, freezing, confiscation, management, and transparent return of stolen assets.

It also called for greater use, verification, and exchange of beneficial ownership information to identify the real owners of companies, trusts, and other legal arrangements often used to conceal illicit wealth.

The organization further called for accelerated implementation of the FATF Recommendations, especially those related to beneficial ownership transparency, politically exposed persons, financial intelligence, international cooperation, and asset recovery.

ANEEJ also urged both governments to expand cooperation in tackling trade-based money laundering, virtual asset-related crime, cyber-enabled financial crime, and the misuse of emerging technologies by criminal networks.

“Asset recovery must be transparent, accountable, and people-centered. Recovered assets should not disappear into opaque systems. They should be returned through processes that are open to public scrutiny and used to support development priorities benefiting citizens, especially poor and vulnerable communities affected by corruption and weak governance,” Rev. Ugolor said.

ANEEJ encouraged both governments to institutionalize regular engagement with civil society organizations, academia, investigative journalists, and the private sector, noting these stakeholders play an essential role in promoting transparency and monitoring reform implementation.

The organization acknowledged Nigeria has made significant progress in strengthening its anti-money laundering and counter-terrorism financing framework. Still, it emphasized that maintaining these reforms will require ongoing investment in institutional capacity, technological innovation, inter-agency coordination, and international partnerships.

“The renewed Nigeria–UK partnership provides an excellent platform to accelerate financial integrity reforms, deepen law enforcement cooperation, and enhance regional and global efforts against illicit financial flows. Nigeria and the UK must now move from commitments to measurable outcomes,” Ugolor stated.

ANEEJ reaffirmed its commitment to support both governments through independent research, policy dialogue, technical engagement, and evidence-based advocacy aimed at strengthening asset recovery systems, fighting illicit financial flows, promoting beneficial ownership transparency, and advancing effective FATF standards.

The statement concluded that Nigeria and the UK have an opportunity to show global leadership by turning international cooperation into tangible results that prevent organized crime, recover stolen assets, strengthen public institutions, and promote sustainable development.