FG orders enforcement of currency declaration

In a move to accelerate the removal of Nigeria from the list of countries still having issues with the Financial Action Task force, FATF, regarding anti-money laundering/counter financing terrorism regimes, the Federal Government has directed the immediate sanitisation of the country’s international airports, particularly the enforcement of currency regime declaration by travellers.


The government has also constituted a cabinet committee under the chairmanship of Vice-President Namadi Sambo, to ensure that Nigeria was completely removed from the list.

The vice-president during the maiden meeting of the committee said the present 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 in a deliberate attempt to accelerate the delisting of Nigeria from FATF books, the President had constituted the high powered committee, charging members to work assiduously to ensure that the committee discharged its mandate effectively.

Sambo said the President remained committed to the delisting of Nigeria from the list of countries that still have issues with FATF.

The vice-president said; “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.”

Chairman of the Presidential Task Force on FATF, Mr. Stephen Oronsaye, noted that the presidential committee had made considerable progress 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 on-site visit to Nigeria in September in order to facilitate the delisting of Nigeria from their books.

Source: National Mirror