Nigeria Strengthens Anti-Money Laundering Framework Ahead of FATF
The Federal Government of Nigeria is committed to strengthening its anti-money laundering, counter-financing of terrorism, and counter-proliferation financing (AML/CFT/CPF) framework as it prepares for the 2027 Financial Action Task Force (FATF) mutual evaluation. Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, made this commitment during the Federal Ministry of Justice AML/CFT/CPF Stocktake Exercise held in Abuja.
He described the exercise as a critical moment for Nigeria to assess its institutions' effectiveness in combating financial crimes. Fagbemi noted that the country’s successful exit from the FATF grey list was achieved through collaboration and discipline, emphasizing that this exit is a milestone rather than the final goal.
He highlighted the need for measurable outcomes in detecting illicit financial flows and prosecuting offenders. Hafsat Abubakar Bakari, CEO of the NFIU, underscored the Ministry's role in strengthening the rule of law against sophisticated financial crimes.
Plus234Feed summary based on reporting from Nigerian Tribune. Read the original report below.
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