In a bid to boost Nigeria’s investment appeal and global investor confidence, the Managing Director of the Oil and Gas Free Zones Authority (OGFZA), Bamanga Jada, has pledged collaboration with the Nigerian Financial Intelligence Unit (NFIU).
During a recent visit to the NFIU Director Hafsat Bakari’s office in Abuja, Jada, accompanied by key members of his management team, affirmed OGFZA’s commitment to transparency, investor confidence, and Nigeria’s reputation as a top investment destination.
The visit aimed to explore opportunities for cooperation between the two agencies, focusing on enhancing transparency and compliance levels in Nigeria’s Oil and Gas Free Zones.
This strategic partnership is expected to attract high-value investments, contributing significantly to Nigeria’s economic growth, according to a statement by OGFZA.
As the central coordinating body for financial intelligence related to money laundering and terrorism financing, the NFIU, under Bakari’s leadership, has made strides in blocking revenue leakages, boosting government revenues, and enhancing Nigeria’s international image and investor confidence.
OGFZA’s readiness to collaborate with NFIU to combat money laundering and terrorism financing within the Oil and Gas Free Zones was lauded by Jada during the meeting.
Bakari expressed commitment to a strong partnership with OGFZA, emphasizing joint sensitization and training initiatives to enhance compliance with regulations within the Free Zones.
The collaboration between OGFZA and NFIU aims to develop regulatory guidelines for safeguarding financial transactions, promoting a secure and credible investment environment in Nigeria’s Oil and Gas sector.
Furthermore, the partnership is expected to improve Nigeria’s Investor Attractiveness Ranking, elevate the country’s Investment Rating, and enhance inter-agency cooperation for efficient resource utilization and faster response to financial crimes.
Bakari highlighted the NFIU’s positive impact in combating financial crimes across various sectors, emphasizing the creation of a safer business environment for investors.