Following the implementation of significant changes to the country’s anti-money laundering and counter-terrorism financing systems, the Nigerian Financial Intelligence Unit (NFIU) has stated that the country is on track to leave the Financial Action Task Force (FATF) grey list.
Following the FATF plenary session in Strasbourg, France, NFIU Director Hafsat Bakari revealed this in a statement.
Wale Edun, the minister of finance and Coordinating Minister of the Economy, led the delegation of Nigeria to the meeting.
Countries on the FATF’s “grey list” are those whose anti-money laundering and counter-terrorism financing systems are in decline.
To avoid negative economic and reputational effects, nations on the list are expected to address these gaps as soon as possible.
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The NFIU claims that various branches of government coordinated their efforts.
The National Security Advisor, the Interior Ministry, the Justice Ministry, and the Office of the President are just a few of the organizations.
The implementation involved multiple organizations, according to Bakari, who also serves as the Inter-Ministerial Committee on Anti-Money Laundering’s secretariat lead.
The Department of State Services (DSS), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigeria Police Force (NPF), the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN), and the National Intelligence Agency (NIA) are just a few examples.
Source: Channels TV
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