The Speaker of the House of Representatives, Yakubu Dogara, says the suspension of Nigeria from the EGMONT group is a major set back for the Federal Government’s fight against corruption.
Dogara said this on Monday in Abuja when he received in audience Colonel Adama Coulibaly, the Director General of Inter Governmental Action Group Against Money Laundering in West Africa, a unit of the Economic Community of West African States.
The speaker said Nigeria’s suspension was a rude shock because the All Progressives Congress government was committed to the fight against corruption.
He said the National Assembly was working to ensure that the suspension placed on Nigeria would be lifted within the shortest time.
Dogara said the fight against corruption could not be successful without support and cooperation from other countries because in most cases, proceeds of corruption were taken out of the country and kept in other jurisdictions.
He said: “No nation can survive as an island.
“It will take the collective cooperation by agencies different countries to combat both terrorism and corruption.
“Unfortunately, we are facing the two in Nigeria, with the Boko Haram violence in the North East.
“It is impossible to fight terrorism and corruption without strong legal framework.”
Dogara explained that there were two bills on anti-terrorism and anti-money laundering and mutual assistance on reparation of corruption proceeds that were pending before the House, which will soon be passed into law.
However, the Speaker explained that the House was yet to pass the Bill seeking to grant total autonomy to the Nigerian Financial Intelligence Unit as forwarded from the Senate.
This, he said, was because there was the need to meet with key stakeholders and players to know their expectations so as to avoid expulsion of Nigeria from the group.
Coulibaly, speaking earlier, said he was in Nigeria on advocacy visit on the hosting of GIABA statutory meetings slated for November in Nigeria and to assess Nigeria’s application to join the Financial Action Task Force.
Coulibaly urged Nigerian leaders to work to ensure that the country meets the minimum requirements and standards needed in order to be admitted into the FATF, which will make it second African country to join the group after South Africa.
Coulibaly was accompanied by the Director of the NFIU, Francis Usani.