Disturbed by the listing of Nigeria among countries still having issues with the Financial Action Taskforce (FATF), the Federal Government on Tuesday, constituted a Cabinet team to accelerate the country’s removal from the infamous group.
The FATF deals with issues relating to Anti-Money laundering/Counter Financing Terrorism regimes. The Cabinet team is headed by Vice President Namadi Sambo.
Presiding over the committee’s maiden meeting on Tuesday, Sambo pledged to ensure that Nigerian’s name was completely removed from the list.
The Vice President stressed that the President Goodluck Jonathan-led administration strongly believed that with the measures already put in place regarding laws and regulations, Nigeria, should not continue to remain on the public statement of the FATF.
He noted that President Jonathan set up the committee as a deliberate attempt to accelerate the delisting of Nigeria from FATF books.
He therefore, charged members to work assiduously to ensure that the committee discharged its mandate effectively, stressing that the President remained determined to the delisting of Nigeria from countries that still have issues with FATF.
“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.” he said.
Vice President Sambo towards this end directed the immediate sensitization 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 Presidential 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.
The Financial Action Task Forces is expected for an onsite visit to Nigeria in September, the visit is meant to facilitate the delisting of Nigeria from their books.