Nigeria aims to exit the Financial Action Task Force (FATF) Grey List by May 2025, following a new initiative led by the National Information Technology Development Agency (NITDA) and the Nigerian Financial Intelligence Unit (NFIU).
The initiative, launched on Tuesday in Abuja, is part of President Bola Tinubu’s directive to strengthen the country’s anti-money laundering and counter-terrorism financing efforts. NITDA Director General Kashifu Inuwa highlighted that the project marks a key step in Nigeria’s bid to address issues like money laundering and terrorism financing, which led to the country’s Grey List status in 2013.
NFIU CEO Hafsat Abubakar Bakari called the project a “game changer,” while Hon. Adedeji Olajide, Chairman of the House Committee on ICT and Cybersecurity, offered legislative support for the initiative.
