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FATF: Nigeria will be removed from the grey list before the 2025 deadline

28/08/2024
Source : ORISHAS-FINANCE
Categories: Compliance

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During a fact-finding visit to the office of the Nigerian Financial Intelligence Unit (NFIU) in Abuja on Tuesday, Femi Gbajabiamila, Chief of Staff to President CoS, announced that the Presidency will take concrete steps to ensure Nigeria is removed from the Action Group's grey list financial (FATF) before the May 2025 deadline

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Femi Gbajabiamila ensured the federal government's determination to address the shortcomings that led to Nigeria being listed. Nigeria was added to the FATF grey list on 24 February 2023 due to increased capital inflows and shortcomings in the fight against money laundering, terrorism, and arms financing. Gbajabiamila, emphasized the need to accelerate efforts to complete the remaining tasks. He also led the NFIU, which operates under the supervision of the White House, of the continued collaboration with his office to enable the organization to fulfill its role in protecting the Nigerian financial system from threats such as terrorist financing, money laundering, arms proliferation, and other violent crimes

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