The Presidency says it will take concrete steps to ensure Nigeria’s removal from the global Financial Action Task Force, FATF Grey list before the May 2025 deadline.
Chief of Staff to the President, Femi Gbajabiamila gave this assurance during a fact-finding visit to the Nigerian Financial Intelligence Unit, NFIU office in Abuja on Tuesday.
Responding to a request from the NFIU Director and Chief Executive Officer, Hafsat Bakari, who sought high-level intervention to meet the FATF action plan implementation deadline, Gbajabiamila pledged the Federal Government’s determination to address the deficiencies that led to Nigeria’s listing.
“We have nine months left to exit the Grey List, and even being on that list is bad enough-that is not what we want for our country.
”Therefore, we will do everything we need to do because May 2025 is around the corner. You must furnish us with the information and the boxes that we need to tick. We do not want a fire brigade approach because May is around the corner; this is a high priority”.
In February 24, 2023, Nigeria was placed on the FATF Grey List due to rising capital inflows and shortcomings in combating money laundering, terrorism, and arms financing.
The FATF is an independent inter-governmental organisation that promotes policies to protect the global financial system by evaluating jurisdictions based on their Anti-Money Laundering/Counter Financing of Terrorism and Proliferation, AML/CFT/P standards.
The Chief of Staff to the President also visited Nigeria Extractive Industries Transparency Initiative, NEITI and the National Council on Climate Change, NATCCC as part of his ongoing engagements with agencies under
(Editor: Terverr Tyav)
