Nigeria to Exit FATF Grey List Soon, ICPC Chairman Assures

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, SAN has assured Nigerians that the ICPC and other anti-corruption agencies are diligently working to ensure Nigeria’s removal from the Financial Action Task Force (FATF) Grey List.

Speaking at a recent two-day workshop organized by the Anti-Corruption Academy of Nigeria on Anti-Money Laundering and Countering the Financing of Terrorism for law enforcement officers, Dr. Aliyu emphasized the significant financial and commercial implications of Nigeria’s inclusion on the FATF Grey List for businesses operating within the country.

The ICPC chairman declared emphatically, “The ICPC and other anti-corruption agencies are committed to collaborating to ensure the country’s exit from this challenging status,”

Dr. Aliyu explained that the workshop was one of the steps being taken towards finding solutions to ensure that Nigeria was removed from the (FATF) Grey List adding that the workshop initiative aimed at tackling the challenge.

He reassured participants that more such programs would be organized to meet FATF targets and further develop their capabilities.

The ICPC boss underscored the extensive impact of money laundering on Nigeria’s socio-economic situation and stressed that the importance of vibrant and effective action by ICPC officers was required and urgently needed to tackle the challenge posed by the Grey List on Nigeria.  

Secretary to the Commission, Mr. Clifford Oparaodu, called for collaboration and cooperation among various departments to strengthen the fight against corruption in Nigeria. “It is important that we work as a community, as a team, even though we come from various departments and units. Our challenges can be overcome if we work together,” he stated.

Acting Director of the Anti-Corruption Academy of Nigeria (ACAN), Mr. Richard Bello, welcomed participants and encouraged them to make the most of the workshop, gaining valuable insights.

The opening ceremony also featured the Director of the Special Services Department, Mrs. Grace Agha-Ibe, and the Acting Directors of Operations and Proceeds of Crime Departments, Mr. Shehu Yahaya and Mr. Michael Agboro, respectively.

It would be recalled that on February 24, 2023, Nigeria was placed on the FATF Grey List due to a rise in capital inflows and deficiencies in combating money laundering, terrorism, and arms financing.

The FATF is an independent intergovernmental organization that promotes policies to protect the global financial system, evaluating jurisdictions based on their Anti-Money Laundering/Counter Financing of Terrorism and Proliferation (AML/CFT/P) standards.