The Nigerian Financial Intelligence Unit (NFIU) has disclosed plans to remove the country from the grey list of the global Financial Action Task Force (FATF).
In a statement yesterday signed by NFIU’s Chief Media Analysts, Ahmed Dikko, it stated that the NFIU is responsible for implementing the country’s anti-money laundering and counter-financing of terrorism (AML/CFT) framework reform programme which started in January 2022.
The statement quoted the CEO of the NFIU, Modibbo Hamman Tukur, that Nigeria’s engagement with the FATF in February indicated that progress is being made by the country and a list of 15 items were jointly agreed to form part of the country’s Action Plan, a reduction from 84 items identified as deficiencies in the country’s evaluation report published in August 2021.
Represented by the Associate Director, Legal and Sanctions, the NFIU Tukur noted that “stakeholder agencies involved in the country’s AML/CFT framework together with representatives from the private sector met in May this year and agreed a revised strategic roadmap to exiting the grey-list.”
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Speaking at a retreat to galvanise further action following the enactment of a new legislative and regulatory framework in May 2022, the NFIU boss said achieving the ultimate objective requires consistency, commitment and coordinated efforts by all stakeholders and particularly reporting entities from the private sector.
On his part, the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Aliyu Ahmed, called on all stakeholders to put in place appropriate measures to prevent abuse of Nigeria’s financial system.
