Tag: FATF

One step forward: Nigeria gets off Financial Action Task Force (FATF) list of high-risk jurisdictions

October 31, 2013

Introduction In a public statement issued at the end of its recent plenary meeting held in Paris, France from the 14th to 18th of October, 2013, the FATF removed Nigeria from the list of jurisdictions with significant deficiencies in their Anti-money laundering & Counter Financial Terrorism (AML/CFT) regimes.

The journey towards a clean bill of health: recent developments in Nigeria’s anti-money laundering crusade.

August 30, 2013

Background Efforts to combat money laundering in Nigeria began in 1995 with the first Anti-money laundering legislation. Since then, there have been enactments and amendments in 2004, 2011, and 2012. Nevertheless, Nigeria is yet to gain the much coveted status of a fully compliant country.