The Economic and Financial Crimes Commission, EFCC and Nigeria Financial Intelligence Unit, NFIU have mapped out fresh strategies geared towards Nigeria’s exit from Financial Action Task Force, FATF’s Grey List.
NFIU Chief Executive Officer, Hafsat Abubakar Bakari who paid a visit to EFCC Chairman Ola Olukoyede at the Commission’s Headquarters in Abuja outlined the various intelligence-generating and sharing modalities her unit has introduced to serve relevant agencies across the country.
She further explained how the NFIU has been enforcing compliance obligations of reporting entities to it as she pledged greater effectiveness and integrity of intelligence to tackle corruption, insecurity, banditry, terrorist financing and other threats to peace and progress of Nigeria.
The EFCC Chairman told his guest he was optimistic that the combined work of the EFCC, NFIU and other relevant agencies will assist Nigeria to exit the grey list.
He reiterated his commitment towards preventive framework in tackling economic and financial crimes, stressing that it is cheaper to prevent corruption than to fight it.
The Financial Action Task Force, FATF, is a global money laundering and terrorist financing watchdog.
FATF added Nigeria to its list of countries under monitoring, designated as “Grey List” in February 2023.
This listing required the country to implement an action plan comprising 19 items before May 2025 to avoid the greater danger of upgrade to the “Black List” which comes with negative economic consequences
Editor Oloyede Oworu
