After completing all 19 of its Action Plan items, Nigeria is now one step closer to leaving the Financial Action Task Force (FATF) grey list.
A significant step forward in the global anti-money laundering and counter-terrorism financing framework is the country’s legal and institutional reforms that have resulted in compliance with 36 of the 40 FATF Recommendations.
At the opening of the National Task Force’s four-day retreat in Abuja, the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, highlighted this progress.
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Bakari stressed the value of being prepared for the FATF Africa Joint Group’s trip to New York City next month.
Senior government departments, MDAs, including law enforcement, regulatory, intelligence, and prosecutorial bodies, gathered for the retreat. Ola Olukoyede, the head of the Economic and Financial Crimes Commission (EFCC), and Musa Aliyu, the head of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), among others, were present.
The retreat’s goal is to ensure that all MDAs are able to confidently present and defend the FATF assessors’ reports, reforms, and data.
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Bakari urged all participants to continue to work together and demonstrate that Nigeria’s reforms are both feasible and viable beyond the confines of grey list monitoring. The onsite assessment, scheduled for the following month, represents the first step toward full integration into the world financial system.
Source: Channels TV
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