From Juliana Taiwo-Obalonye, Abuja
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, behind Nigeria鈥檚 significant strides toward exiting the Financial Action Task Force (FATF) greylist, marking a critical milestone in the country鈥檚 fight against money laundering, terrorist financing, and financial crimes.
In a statement, Chief Executive Officer of NFIU, Hafsat Bakari, praised the collective efforts of government agencies and stakeholders. 鈥淐ongratulations and a job well done as Nigeria comes closer to exiting the FATF grey list. The results achieved as part of the strategic reforms must be applauded,鈥 she said.
She said the NFIU, serving as the Secretariat of the Inter-Ministerial Committee on AML/CFT/CPF, spearheaded the development of a comprehensive roadmap to address deficiencies highlighted in Nigeria鈥檚 2021 mutual evaluation report. She explained that the roadmap was recently reviewed and endorsed at the FATF Plenary in Strasbourg, France, where it was acknowledged that Nigeria has completed the implementation of its Action Plan within the agreed deadline鈥攁 rare achievement among listed jurisdictions.
Bakari emphasised the pivotal role of political leadership in this success: 鈥淭he clear focus and leadership of His Excellency, President Bola Ahmed Tinubu GCFR, provided an enabling environment for the reform processes. His dynamic leadership, alongside the support of the Federal Executive Council and the National Assembly, has been a critical success factor.鈥
She also highlighted the crucial contributions of the Judiciary, which has demonstrated the effectiveness of Nigeria鈥檚 legal framework in combating financial crimes. The Attorney-General of the Federation and Minister of Justice, Minister of Finance and Coordinating Minister of the Economy, and the Minister of Interior, who led the Inter-Ministerial Committee, were credited for providing strategic direction.
鈥淭he commitment of these key officials, along with support from the National Security Adviser and various ministers, has been instrumental in driving the reforms forward,鈥 Bakari noted.
A broad coalition of agencies formed the backbone of the national effort, including the Central Bank of Nigeria, Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), Nigeria Customs Service, Nigeria Police Force, and many others. Their coordinated efforts have strengthened Nigeria鈥檚 defenses against illicit financial activities.
Despite the progress, Bakari cautioned that key steps remain before Nigeria can officially exit the greylist. 鈥淎 critical upcoming milestone is the onsite assessment by the FATF in the next few weeks. This assessment is an opportunity to demonstrate Nigeria鈥檚 highest political commitment to sustaining the reform programme and to showcase the impressive results achieved by both public and private sectors in preventing, detecting, and disrupting serious crimes.鈥
She reaffirmed the NFIU鈥檚 dedication to the ongoing fight: 鈥淭he NFIU remains committed to supporting and working with all stakeholders in strengthening our collective defenses against money laundering, terrorist financing, and other serious crimes.鈥