Nigeria’s Federal Government has indicated the willingness to join the global Financial Action Task Force (FATF) on money laundering and terrorist financing watchdog.
This is in a bid to address the challenges of money laundering and terrorism financing, the Attorney-General of the Federation and Minister of Justice has said.
Abubakar Malami, SAN, made this known at the Extraordinary Ministerial Committee Meeting of the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA).
Malami’s Special Assistant on Media, Umar Jibrilu Gwandu, in a statement quoted the Minister as assuring the member States that Nigeria is willing and ready with high-level commitment to address money laundering and terrorism financing to have a stable and peaceful nation.
According to him, “The FATF monitors 39 member countries to ensure full and effective FATF standards, thereby holding nations that do not comply accountable.
“Nigeria’s Financial Intelligent Unit has issued Executive Alert issued to all Ministries, Departments and Agencies (MDA) for the implementation of the Action Plan on Nigeria follow up process.”
He stated that the Minister appreciated FATF, GIABA and Member States of GIABA for reviewing and adopting the just concluded 2nd Mutual Evaluation Report (MER) of Nigeria.