₦airaland Forum

According to the report, the unit received 401 Suspicious Transaction Reports (STRs) linked to both regions within the period under review.


The Nigerian Financial Intelligence Unit (NFIU) has revealed that over ₦48billion in suspicious financial transactions was moved from Nigeria to Dubai and Hong Kong between January 2021 and September 2024.




In a May 2025 report obtained on Tuesday, the NFIU described the two destinations as “emerging global hotspots for illicit financial flows,” and warned Nigerian financial institutions to strengthen their monitoring systems, PUNCH reports.




According to the report, the unit received 401 Suspicious Transaction Reports (STRs) linked to both regions within the period under review. Although Dubai accounted for only 185 of the reports, the transactions connected to the United Arab Emirates totalled ₦29.6bn — the highest in value.



The remaining 216 STRs involved Hong Kong, with a combined value of ₦18.6bn.

“The NFIU finds it pertinent to issue this advisory to relevant stakeholders to employ Enhanced Due Diligence in the detection, deterrence, and prevention of abuse of the financial system through these hotspots,” the report stated.



“Reporting suspicious transactions and activities flowing from these jurisdictions is critical to protecting the Nigerian financial system and contributing to the global fight against money laundering, terrorist financing, and proliferation financing.”



The report documented a sharp increase in suspicious transactions over time. In 2021, only two STRs worth ₦42million were recorded. By 2024, the number had soared to 202 reports, with a total value of ₦32billion.



The NFIU attributed the rise to “complex regulatory loopholes,” shell companies, offshore accounts, and weak enforcement mechanisms in both Dubai and Hong Kong. These gaps, the agency said, are being exploited by criminal networks.



“Dubai, a major financial and commercial centre in the Middle East, has become a focal point in the global fight against money laundering. Its strategic location, burgeoning real estate market, and business-friendly environment make it appealing to both legitimate investors and criminal actors,” the report noted.



It referenced the 2020 Dubai Leaks scandal, which exposed how individuals under international sanctions, alleged criminals, and politically exposed persons acquired valuable real estate assets in the city.



On Hong Kong, the report said: “Hong Kong, a major financial hub in Asia, is similarly challenged by money laundering activities. Its role as an international finance centre and gateway to mainland China makes it a critical node in global financial flows.



“The city has witnessed a number of high-profile money laundering cases involving major international banks. These incidents underscore the ongoing challenge of balancing financial openness with effective regulatory oversight.”



The NFIU urged Nigerian banks, financial institutions, and regulators to apply Enhanced Due Diligence procedures and prioritise the early detection and reporting of suspicious activities linked to both cities.



“This advisory is a call to arms for Nigerian financial stakeholders,” the report concluded. “Failure to act decisively could expose the country to deeper financial crime risks and serious international reputational damage.”

https://saharareporters.com/2025/05/28/over-n48billion-moved-nigeria-dubai-hong-kong-suspicious-transactions-report

Nigeria is profusely bleeding and judgement day awaits those orchestrating it. You see this APC people: your end is near, together with their e-rats..

Nigeria is now a money laundering haven

That's why I always laugh when Tinubu supporters and some folks who have been deceived think that Naira is falling because we don't earn enough dollars or we don't produce enough, not that those 2 issues are not part of it but they are secondary issues, the major problem with the falling of the naira is too much export of the dollars we earn, from my findings Nigeria earns far more dollars than when OBJ was in power because now there are more Nigerians abroad remitting money back home, there Nigerians working online and earning in dollars from Nigeria unlike during OBJ's time, more oil companies are paying higher tax to the government in dollars, there are content creators earning from various international platforms in dollars, we even have more more music and movie actors earning far more in dollars than in OBJ's time...

So what exactly is depleting the dollars to scarcity ?

Corrupt government, the more corrupt the government is the more dollars take flight abroad, Tinubu's government is like bazaar going on, from purchasing of houses to money laundering and so on, I just laugh at people not holding the government accountable for fall of naira, they steal naira in large quantity and convert to dollars at any rate given to them then export it abroad causing scarcity for those who genuinely need it here for productivity and value chain.

Source: Sahara reporters

Anytime I see the word Dubai.
There Landlord 4rm Northern Nigeria coms to mind.

The people involved don’t want what befelled Emefiele happen to them

helinues:
Source: Sahara reporters

Job, yes or no?

helinues:
Source: Sahara reporters

But you were cheering sowore the owner of Sahara reporters when he was attacking Obi.

What changed now?

Brendaniel:
That's why I always laugh when Tinubu supporters and some folks who have been deceived think that Naira is falling because we don't earn enough dollars or we don't produce enough, not that those 2 issues are not part of it but they are secondary issues, the major problem with the falling of the naira is too much export of the dollars we earn, from my findings Nigeria earns far more dollars than when OBJ was in power because now there are more Nigerians abroad remitting money back home, there Nigerians working online and earning in dollars from Nigeria unlike during OBJ's time, more oil companies are paying higher tax to the government in dollars, there are content creators earning from various international platforms in dollars, we even have more more music and movie actors earning far more in dollars than in OBJ's time...

So what exactly is depleting the dollars to scarcity ?

Corrupt government, the more corrupt the government is the more dollars take flight abroad, Tinubu's government is like bazaar going on, from purchasing of houses to money laundering and so on, I just laugh at people not holding the government accountable for fall of naira, they steal naira in large quantity and convert to dollars at an rate given to them then export it abroad causing scarcity for those who genuinely need it here for productivity and value chain.

If your opinion holds any semblance of value given that you assume it takes the largest pie causing the dollar crisis in Nigeria, shouldn’t floating the currency ordinarily fix the issue by a larger margin? I mean, government already giving duty/tax free regime to import from genuine companies. Shouldn’t go a long way?

WantsandMore:
If your opinion holds any semblance of value given that you assume it takes the largest pie causing the dollar crisis in Nigeria, shouldn’t floating the currency ordinarily fix the issue by a larger margin? I mean, government already giving duty/tax free regime to import from genuine companies. Shouldn’t go a long way?

It wouldn't fix it as long as the corruption is there, it will only lead to higher demand on the black market which is what is happening...

₦48b moved within 3 years and it's news?? Maybe when you tell us it's $4.8b that's when I'll shocked.

Brendaniel:
It wouldn't fix it as long as the corruption is there, it will only lead to higher demand on the black market which is what is happening...

But without subsidy that shouldn’t cost the government any extra cost no.?

All this story when you can simply ask for the money back and investigate shell companies ownership. I have noticed all this agencies like to make a lot of noise. Just do your job and keep shut till you get results. If the money moved was as a result of crime, you can ask for it back. No be Abacha move money tire? He no de pay us dividend?

WantsandMore:
But without subsidy that shouldn’t cost the government any extra cost no.?

GEJ said something, he said it is easier to wake someone who is asleep than to wake someone who is pretending to sleep, this current government is not sincerely ready to tackle the FX issues of Nigeria because it will affect most of them...

2mch:
All this story when you can simply ask for the money back and investigate shell companies ownership. I have noticed all this agencies like to make a lot of noise. Just do your job and keep shut till you get results. If the money moved was as a result of crime, you can ask for it back. No be Abacha move money tire? He no de pay us dividend?

It is easier to wake someone who is asleep than to wake someone pretending to sleep...

That is the case of Tinubu's government you support...