‎Tinubu lauds Nigeria’s exit from FATF grey list

‎By Muhyideen Jimoh
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‎President Bola Tinubu has welcomed Nigeria’s removal from the Financial Action Task Force (FATF) grey list.
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‎The FATF announced Nigeria’s delisting at its plenary in Paris, France, on Friday.
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‎Presidential spokesperson, Mr Bayo Onanuga, disclosed this in a statement issued in Abuja.
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‎The FATF is the world’s leading body for setting standards against money laundering, terrorist financing, and proliferation financing.
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‎The decision officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the “grey list.”
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‎Tinubu described the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.”
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‎The delisting followed Nigeria’s successful completion of its FATF Action Plan.
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‎It marked over two years of coordinated reforms to strengthen the nation’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.
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‎Nigeria was placed on the grey list in February 2023, signaling the need for stronger enforcement, better coordination, and improved transparency.
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‎Under Tinubu’s leadership, and in line with his economic transformation agenda, Nigeria enacted far-reaching legal and institutional reforms.
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‎The Nigerian Financial Intelligence Unit (NFIU) coordinated these efforts with the Attorney-General, Ministers of Finance, Justice, Interior, and Economy.
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‎Tinubu acknowledged the critical support of the Secretary to the Government of the Federation and several ministers, including those of Defence, Aviation, and Budget.
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‎He also praised contributions from the Ministers of Foreign Affairs, Solid Minerals, and State for Finance, as well as the National Security Adviser, the National Assembly, and the Judiciary.
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‎The president commended NFIU Director/CEO, Ms Hafsat Bakari, and her team for ensuring timely implementation of Nigeria’s Action Plan.
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‎He stated that their diligence earned global recognition for Nigeria’s progress in combating financial crimes.
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‎“Without their dedication and sacrifice, today’s success could not have been achieved.
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‎“I thank them for their efforts and urge other stakeholders to emulate their standards,” Tinubu said.
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‎He further applauded all Ministries, Agencies, and private sector representatives who contributed through the National Task Force on AML/CFT.
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‎According to the president, Nigeria’s removal from the FATF grey list is “not just a technical accomplishment, it is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.
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‎“The exit from the FATF grey list marks the beginning of a new chapter in the nation’s financial reform agenda.
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‎“Nigeria will sustain the already institutionalised reforms, deepen institutional collaboration and continue to build a financial system that Nigerians and the world can trust.”(NAN)(www.nannews.ng)
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‎Edited by Bashir Rabe Mani