Nigeria’s inclusion on the Financial Action Task Force (FATF) grey list has been welcomed by President Bola Tinubu.
After the FATF identified strategic flaws in its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) systems, Nigeria was placed on the grey list in February 2023.
Following the country’s successful implementation of a 19-point action plan to strengthen its (AML/CFT) framework, the FATF removed Nigeria from the list more than two years later.
In a statement released on Friday, Tinubu referred to the development as “a significant milestone in Nigeria’s journey toward economic reform, institutional integrity, and global credibility.”
NFIU: Nigeria No Longer On the Global Financial Watch List
This was stated in a statement from Bayo Onanuga, the president’s spokesman.
Onanuga stated that Tinubu applauded the vital support of the National Assembly and the Judiciary as well as the Minister of Defense, the Minister of Defense, the Minister of Defense, the Minister for Defense, the Minister for Foreign Affairs, the Minister of State for Finance, the National Security Advisor, and the Secretary to the Federation for Government.
The President praised Hafsat Abubakar Bakari, the country’s director/chief executive officer, and the staff for their diligence in ensuring the country’s Action Plan’s complete and timely implementation, according to the statement.
He noted that the international community has recognized the progress Nigeria has made in strengthening its measures to combat serious crimes as a result of the NFIU’s work.
“Our success could not have been possible without their hard work and sacrifice,” they said. President Tinubu praised their efforts, and urged other parties to uphold their standards.
Tinubu also praised all ministries, agencies, their heads, and private sector leaders for their active AML/CFT participation in the National Task Force.
Source: Channels TV
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