FG moves to exit from FATF list

The Federal Government has constituted a Cabinet Committee to
accelerate the removal of Nigeria from the list of countries still
having issues with the Financial Action Task Force regarding
Anti-Money laundering/Counter Financing Terrorism regimes.
The Committee under the chairmanship of the Vice President, Architect
Mohammed Namadi Sambo, during its maiden meeting, pledged to ensure
that Nigeria’s name was completely removed from the list.
The Vice President, during the meeting, stressed that the President
Goodluck Ebele Jonathan-led administration strongly believed that with the measures already put in place regarding laws and regulations, Nigeria should not continue to remain on the public statement of the FATF.
He noted that in a deliberate attempt to accelerate the delisting of
Nigeria from FATF books, President Jonathan had constituted the high
powered committee, charging members to work assiduously to ensure that the committee discharged its mandate effectively, stressing that the President remained determined to the delisting of Nigeria from
countries that still have issues with FATF.
Sambo said: “I urge you all to work hard towards ensuring that we
maintain the integrity of our financial system through effective
implementation of laws and regulations against financial
improprieties.”
Sambo, towards this end, directed the immediate sanitisation of the
country’s international airports, particularly the enforcement of
currency regime declaration by travellers.
The Chairman of the Presidential Task Force on FATF, Stephen Oronsaye,
noted that the Presidential Committee had made considerable inroads in
ensuring that Nigeria was removed from the FATF list, particularly in
areas of strict implementation of rules and regulations in the
financial system.
The Financial Action Task Force is expected for an onsite visit to
Nigeria in September, the visit is meant to facilitate the delisting
of Nigeria from their books.