Nigeria's government pledges to address FATF Grey List deficiencies, aiming to remove Nigeria from the list by May 2025.

Nigeria's Chief of Staff, Femi Gbajabiamila, has pledged the Nigerian government's commitment to addressing deficiencies that led to the country's listing on the Financial Action Task Force (FATF) Grey List. The government aims to remove Nigeria from the list before the May 2025 deadline, due to concerns about capital inflows and inadequate measures against money laundering, terrorism financing, and arms financing. The Nigerian Financial Intelligence Unit (NFIU) has already implemented 30% of the action plan to address the deficiencies, but Gbajabiamila emphasized the need for accelerated efforts to complete the remaining tasks.

August 27, 2024
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