The National Information Technology Development Agency, NITDA, has collaborated with the Nigerian Financial Intelligence Unit, NFIU, to develop and implement a Data Management platform aimed at combating terrorism financing in the country.

The partnership was established during the inaugural meeting for the Development and implementation of an Anti-Money Laundering/Combating the Financing of Terrorism/Countering Proliferation Financing (AML/CFT/CPF) Data Management Platform in Abuja, Nigeria.

The Chief Executive Officer of NITDA, Kashifu Inuwa Abdullahi said; “the project marks a remarkable milestone in Nigeria’s journey to exit from the Financial Action Taskforce grey list.

“On the 24th of February 2023, Nigeria was grey listed in the Financial Action Task Force as a result of lack of visibility of our financial transaction and our anti-money laundering regime, counter-terrorism financing regime, and counter-proliferation financing regime.”

According to him, President Bola Tinubu is committed to combating financial crime through innovation and technology and has directed NITDA and NFIU to develop a system that will help Nigeria exit the grey list and enhance intelligence in all financial transactions.

He said; “This can help us to comply with the global standard and best practices in AML, CFT, and CPF, as well as it will position us and project our own relationship in terms of any financial transaction in the world, and also increase our reputation when it comes to financial transactions.“

The NITDA Boss stated that the project would enhance national security, improve the operational efficiency of the NFIU, and provide the entire financial industry with greater visibility into all activities.

Abdullahi said; “We are also looking at how we can infuse emerging technologies, such as AI, analytics, and so on, so that we can automatically trace any suspicious transaction and flag it up for relevant agencies to take action.“

Also Speaking, the Chairman House Committee on Information and Technology, Stanley Adedeji emphasized that both organisations would receive robust legislative support to guarantee the project’s success.

Adedeji expressed confidence that with the legislature’s backing, the implementation of the Data Management Platform would enhance the country’s capacity to combat financial crimes effectively.

The Director/ Chief Executive Officer of the NFIU, Hafsat Bakare noted the significance of collaboration among governmental bodies in addressing critical issues like anti-money laundering and terrorism financing.

“This is an interagency collaboration. This Project is an innovation that is not just capable of changing the financial landscape in Nigeria but also in Africa,” she added.

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The Federal Government has said it is on the verge of digitizing all public services to harness the benefits of the digital economy and ensure adequate protection of the citizens’ data.

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, disclosed this on Sunday during a press conference to mark the Global Data Privacy Day which has its theme as “Take Control of Your Data’’.

According to him, President Bola Tinubu has given the Ministry the mandate to transform public services with technology. He said this means that a lot more of the things that the government does in public service will be digitalized.

While emphasizing the importance of data protection in a digitalized economy, the Minister said:

“A lot of gadgets we use today are interconnected which means the data we are producing daily must be protected and the people producing it too being enlightened. A lot of the services that citizens consume in the coming months; years will also be digitalised.

“There may be dangers as we collect and share data, so there is need for us as government agencies to protect the data appropriately, we need to invest in innovative ways to protect data.’’

According to him, the Nigeria Data Protection Commission (NDPC) would be able to provide the role of protecting the citizens’ data while Galaxy Backbone would help manage the data exchange system and ensure it follows laid down regulations.

The minister also said that companies that produce digital gadgets have a role in ensuring that the data of people they collect is not compromised.

Also speaking during the conference, the Chairman, House of Representatives Committee on ICT and Cybersecurity, Stanley Adedeji, said that the National Assembly would ensure compliance in its mode of data collection.

“In performing our constitutional duties as legislators, we collect a lot of data, we have to make sure the mode in which we collect data is in compliance with the Data Privacy law.

“This means that we must automate the process of our interaction with MDAs and other organizations,’’ he said.

Adedeji further urged organizations also to be compliant and not choose the part of litigation when found culpable. According to him, the data protection ecosystem is still at the primary stage of development which every institution should be part of the process.

He added that capacity building is needed for people to get acquainted with the law of Data protection, as well having attitudinal change on data privacy.

He pledged the National Assembly’s support in terms of legislation and collaboration by amending laws that will make NDPC to be more effective and transparent.

Speaking on the activities of the Commission, the National Commissioner of NDPC, Dr Vincent Olatunji, said the NDPC had developed a five-year Strategic Roadmap and Action Plan with five pillars in 2023.

Olatunji said that within one year, they have achieved two of the three most challenging targets of the roadmap but for the awareness part, which requires intensive capacity building.

“The commission is keen on building a globally competitive pool of Data Protection Officers (DPOs) who will be able to discharge the duties required of them under Section 332 of the Nigeria Data Protection Act (NDPA).

“We have identified at least 500,000 data controllers and data processors who need qualified DPOs to meet their obligation under the law. We cannot afford to subject this pool to compulsory foreign certifications as this will put pressure on our local currency and defeat the aims and objectives of the Federal Government’s Executive Orders 003 and 005.

“We have concluded arrangements for the licensing of an indigenous certification body with global standard and international spread to fill the gap,’’ he said.

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