The Senate on Tuesday passed a resolution commending
President Bola Tinubu, Senate President Godswill Akpabio, the Nigerian
Financial Intelligence Unit (NFIU), and other stakeholders for their roles in
securing Nigeria’s removal from the Financial Action Task Force (FATF) Grey
List.
The decision followed a motion of urgent public
importance sponsored by Senator Emmanuel Udende, titled “Need to Commend the
Executive, the President of the Senate, the NFIU, and Other Stakeholders for
Their Efforts in the Removal of Nigeria’s Name from the FATF Grey List.”
Senator Udende noted that Nigeria’s delisting
signified a major step forward in strengthening the nation’s Anti-Money
Laundering and Countering the Financing of Terrorism (AML/CFT) framework. He
observed that Nigeria’s earlier inclusion had subjected the country to
increased international scrutiny, damaging investor confidence and restricting
access to global financial markets.
Lawmakers praised the executive and relevant agencies
for their coordinated actions that led to the milestone, expressing optimism
that the development would boost foreign direct investment (FDI) in sectors
such as energy, technology, agriculture, and manufacturing.
The Senate projected that the removal would enhance
economic stability, create jobs, and strengthen the naira, while urging
continued adherence to global compliance standards. It also called for
sustained collaboration between the public and private sectors to entrench
transparency, accountability, and good governance in the financial system.
The NFIU had last week announced Nigeria’s official
exit from the FATF list of jurisdictions under increased monitoring — a move
widely hailed as a positive signal to international partners and investors.
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