The Nigerian Financial Intelligence Unit (NFIU) has credited a series of strategic reforms under the national Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing (AML/CFT/CPF) framework for Nigeria’s progress toward exiting the Financial Action Task Force (FATF) grey list.

 

In a statement, NFIU Chief Executive Officer Hafsat Bakari commended government agencies and stakeholders for their collective efforts. “Congratulations and a job well done as Nigeria comes closer to exiting the FATF grey list,” she said.

 

Bakari explained that the NFIU, which serves as the Secretariat of the Inter-Ministerial Committee on AML/CFT/CPF, led the creation of a comprehensive roadmap to address issues identified in Nigeria’s 2021 mutual evaluation report. The roadmap was recently reviewed and endorsed at the FATF Plenary in Strasbourg, France, where Nigeria was recognized for completing its Action Plan within the deadline—an uncommon feat among listed countries.

 

She credited President Bola Ahmed Tinubu’s leadership and the support of the Federal Executive Council and National Assembly for creating an enabling environment for reforms. She also acknowledged the Judiciary’s role in proving the strength of Nigeria’s legal system in tackling financial crimes.

 

Key ministers, including the Attorney-General of the Federation, the Minister of Finance, and the Minister of Interior, were praised for guiding the reform process. Bakari also highlighted the involvement of various agencies such as the Central Bank of Nigeria, EFCC, FIRS, Nigeria Customs Service, and the Nigeria Police Force, whose cooperation helped reinforce Nigeria’s fight against illicit financial activities.

 

However, Bakari noted that Nigeria must still pass a crucial onsite assessment by the FATF in the coming weeks. “This will be a chance to showcase our commitment to sustaining these reforms and the results achieved so far,” she added.

 

She reaffirmed the NFIU’s dedication to continuing the battle against financial crimes, promising ongoing collaboration with all stakeholders.