Nigeria Celebrates Exit from FATF Grey List as FAAN Chief Pledges Continued Anti-Corruption Efforts
The Federal Airports Authority of Nigeria (FAAN) has welcomed Nigeria’s removal from the Financial Action Task Force (FATF) Grey List, marking a significant breakthrough in the country’s fight against financial crimes.
Mrs. Olubunmi Kuku, FAAN’s Managing Director and Chief Executive Officer, issued a statement celebrating the milestone achievement, which releases Nigeria from heightened international financial scrutiny.
In her remarks, Kuku specifically acknowledged the Nigerian Financial Intelligence Unit (NFIU) and its CEO, Hafsat Abubakar Bakari, for spearheading the successful campaign. “I am profoundly proud and elated at this remarkable achievement,” Kuku stated, emphasizing how the accomplishment demonstrates Nigeria’s potential when working toward common goals.
The delisting from FATF’s Grey List carries significant implications for Nigeria’s economy and international standing. According to Kuku, the development eliminates increased monitoring of Nigeria’s Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) frameworks, potentially leading to smoother international trade operations and reduced transaction costs for Nigerian businesses.
FAAN played a crucial role in addressing the strategic deficiencies previously identified by FATF, contributing to the country’s improved financial compliance standards. The achievement represents a collaborative effort among various Nigerian agencies to strengthen the nation’s financial security measures.
Looking ahead, Mrs. Kuku extended an invitation to international investors, highlighting Nigeria’s enhanced credibility as an investment destination. She assured potential investors of a secure business environment with promising returns, signaling a new chapter in Nigeria’s financial sector development.
The removal from the FATF Grey List positions Nigeria for increased foreign investment and improved international financial relations, marking a pivotal moment in the country’s economic trajectory.
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