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Tuesday 30 July 2013

Committee set to remove Nigeria from money laundering list



The Federal Government has constituted a committee to fast-track Nigeria’s removal from the list of countries having issues with the Financial Action Taskforce on Anti-Money laundering/Counter Financing Terrorism regimes.

The committee led by the Vice President Namadi Sambo, during its maiden meeting on Tuesday, pledged to ensure that Nigeria is completely removed from the list.

According to him, President Goodluck Jonathan’s administration believed that Nigeria should not remain on the public statement of the FATF with the measures regarding laws and regulations already put in place.


He 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, therefore directed the immediate sanitisation of the country’s international airports particularly the enforcement of currency regime declaration by travelers.

The Chairman of the Presidential Task Force on FATF, Mr. Stephen Oronsaye, noted that the 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.

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