ANEEJ tasks FG  on Strengthening Implementation of POCA to Curb Illicit Financial Flows

 BENIN CITY, NIGERIA. November 15, 2025 — The Africa Network for Environment and Economic Justice (ANEEJ) joins the global community to commemorate the International Day Against Transnational Organized Crime, urging the Nigerian government to intensify the implementation of the Proceeds of Crime (Recovery and Management) Act (POCA), 2022.

ANEEJ emphasizes that illicit financial flows (IFFs) linked to organized criminal networks—especially in illegal mining, smuggling, and corruption—continue to rob Nigeria of billions in potential revenue each year, undermining national security and deepening poverty.

“The link between illicit financial flows and organized crime in Nigeria is overwhelmingly clear. Illegal mining cartels and criminal enterprises are thriving on stolen public wealth, while communities are left impoverished and insecure,” said Rev. David Ugolor, Executive Director of ANEEJ. “Nigeria must now reinforce POCA implementation to ensure that criminal networks no longer profit from our nation’s resources.”

A Renewed Opportunity for Reform After FATF Delisting

ANEEJ notes that Nigeria’s removal from the Financial Action Task Force (FATF) grey list in October 2025 has restored global confidence in the country’s financial governance and offers a critical opportunity to consolidate gains in anti-corruption and crime prevention.

Rev. Ugolor noted that, “Nigeria has regained international credibility, but this progress will only endure if the government intensifies enforcement of the Proceeds of Crime Act, prioritizes asset tracing and confiscation, and dismantles the financial pipelines sustaining organized crime. This is the time to act decisively, especially against illegal mining cartels financing insecurity.”

Global Guidance on Asset Recovery and Crime Prevention

Earlier this month, the FATF released its Comprehensive Asset Recovery Guidance and Best Practices, highlighting that depriving criminals of illicit gains is as important as prosecution. The new guidance provides robust tools for tracing, freezing, seizing, and returning stolen assets — a framework ANEEJ believes Nigeria must urgently adopt across all anti-corruption and law enforcement agencies.

“The FATF’s new global guidance makes one point abundantly clear: crime must not pay,” Ugolor stated. “Nigeria should use these international best practices to strengthen domestic mechanisms for asset recovery and ensure that recovered wealth is transparently repurposed for the benefit of citizens.”

Illicit Financial Flows Fuel Poverty and Insecurity

Nigeria loses an estimated $18 billion annually through illicit financial flows, according to the United Nations Conference on Trade and Development (UNCTAD). These outflows—driven by corruption, trade misinvoicing, and criminal smuggling—directly fund transnational organized crime and perpetuate underdevelopment.

Ugolor observed that, “Every dollar lost to illicit flows is a dollar denied to schools, hospitals, and livelihoods. Tackling organized crime is not just a law enforcement issue—it’s an economic and social justice imperative.”

ANEEJ therefore calls on the Nigerian government to fully operationalize POCA 2022 across all relevant agencies, strengthen transparency in asset recovery, and ensure recovered proceeds are directed toward national development priorities and the most vulnerable communities.

A National Duty and a Global Partnership

On this International Day, ANEEJ reaffirms its commitment to supporting the Nigerian government, civil society, and international partners in ensuring that anti-money laundering, asset recovery, and social justice efforts align with global standards.

“To truly stop organized crime, Nigeria must follow the money,” said Ugolor. “Enforcing POCA is not just a legal obligation—it is a national duty to protect citizens, secure our economy, and end the poverty perpetuated by criminal exploitation.”

For further information, please contact 08187674339 or info@aneej.org and follow us on twitter, Instagram and facebook: @aneejnigria, @Latakpu, aneej__nigeria and facebook.com/aneejnigeria