Fagbemi Warns of Money Laundering Threats in West Africa

On Tuesday, during a media outreach program in Abuja, Lateef Fagbemi, the Attorney General of Nigeria, warned that money laundering and terrorist financing are significant threats to the economic stability of Nigeria and the broader West African sub-region. He represented the Nigerian government at the event organized by the Inter-Government Action Group Against Money Laundering in West Africa (GIABA).

Fagbemi highlighted the need for a concerted effort to eradicate these financial crimes, which are often complex and evolving. He stated that the federal government is committed to strengthening its anti-money laundering (AML) and counter-financing of terrorism (CFT) framework through legislative reforms and enhanced inter-agency partnerships.

Fagbemi stressed the importance of public awareness and understanding in combating these issues, urging the media to play a crucial role in disseminating accurate information. He was joined by representatives from the Nigerian Financial Intelligence Unit and GIABA, who emphasized the media's role in raising awareness about the negative consequences of money laundering and terrorist financing.