Over 50 percent of financial crimes registered in Nigeria stem from tax offenses and fraud, driven significantly by modern tech-enabled scams, cyber-hacking, and digital investment schemes.
This was revealed in the 2025 Annual Report released by the Nigerian Financial Intelligence Unit (NFIU), highlighting the evolving threats within the country’s financial and digital ecosystem.
According to the report, the NFIU generated and disseminated 1,398 proactive intelligence reports to domestic law enforcement agencies and competent authorities for further investigation in 2025. The unit also processed reactive intelligence reports in response to specific requests, supporting ongoing investigations by tracing proceeds of crime, uncovering criminal networks, and identifying assets.
A granular breakdown of the reports disseminated across the top 10 designated offenses showed that tax crimes covering both direct and indirect taxes accounted for 30%, making it the single largest category. Fraud followed closely at 21%, bringing the combined total of both offenses to 51% of all intelligence reports generated under the top categories.
Money laundering represented 15% of the reports, while illegal trafficking in narcotic drugs and psychotropic substances accounted for 10%.
Bribery and corruption, as well as terrorism and terrorist financing, each recorded 8%. Illegal currency exchange trading and organized crime/racketeering accounted for 3% each, while human trafficking and migrant smuggling made up 1% each.
Highlighting the growing intersection between technology and financial crime, the NFIU emphasized that fraud remains a dominant predicate offense in Nigeria, increasingly fueled by digital and online channels.
The intelligence agency pointed to emerging cybersecurity and financial technology risks, noting a sharp rise in tech-driven crime vectors. These include sophisticated hacking-related fraud, cryptocurrency-enabled investment scams, fraudulent crowdfunding schemes, and digital Ponzi platforms targeting unsuspecting citizens.
The NFIU’s findings underscore the urgent need for financial institutions, fintech operators, and cybersecurity stakeholders to strengthen their digital infrastructure, transaction monitoring, and threat intelligence to counter tech-enabled financial crimes.