New Delhi: India's efforts to counter terrorism are huge, and Nigeria expresses gratitude to the government of India for its commitment to counter-terrorism, said Nigerian Interior Minister Rauf Aregbesola here on Saturday.

"I am happy that all the world leaders have a solid commitment to counter-terrorism and put in efforts to prevent the illicit flow of money to terrorists and terrorism," the Nigerian Minister said.

He further said that the solid commitment of world leaders to counter-terrorism and their efforts to prevent the illicit flow of money to terrorists and terrorism is appreciable.

"Gratitude to the government of India for its commitment to counter-terrorism. I am happy that all the world leaders have a solid commitment to counter-terrorism and put in efforts to prevent the illicit flow of money to terrorists and terrorism," the Nigerian Minister said.

The Interior minister recalled how India was a partner in the counter-terrorism conference that took place in Africa last year and was successful.

He also said that it is the need of the hour to focus on issues to build on how to use several financial intelligence units, security agencies, it's sub jurisdictions in order to stop the flow of money through several media to the terrorists and with that reduce incidents of terrorism worldwide.

"It is important to focus on issues to build on how to use several financial intelligence units, security agencies, its sub jurisdictions to stop the flow of money through several media to the terrorists and with that reduce incidents of terrorism worldwide," the minister said.

Meanwhile, Union Home Minister Amit Shah on Saturday outlined a five-pillar approach to combat financing of terrorism including a comprehensive monitoring framework that involves collaboration among all intelligence and investigative agencies.

"The first pillar is to establish a comprehensive monitoring framework involving cooperation, coordination, and collaboration among all intelligence and investigative agencies. The second pillar, the strategy of "Trace, Target, and Terminate", to be adopted from low-level economic offenses to more organized economic crimes," the Home Minister said.

The third pillar, Shah said, is strengthening and harmonizing the legal structures related to terror finance.

"The fourth pillar, developing a robust mechanism against the misuse of Next Generation Technology. The fifth pillar is to strengthen the legal and regulatory framework for asset recovery."

Notably, the 'No Money for Terrorism' conference is being organised here by the National Investigation Agency (NIA) in New Delhi under the supervision of the Ministry of Home Affairs (MHA).

The first such meeting was held in Paris (France) in 2018 and the second in Melbourne (Australia), in 2019. Nearly 65 nations participated in the 2019 conference.

Representatives from over 78 countries and multilateral organisations took part in the conference.