FG determined to meet Egmont group, FATF conditions – AGF

The Attorney-General of the Federation and Minister of Justice,
Mr. Abubakar Malami (SAN), on Sunday assured Nigerians that the
Federal Government would do the needful to ensure that Nigeria
secured the membership of the global anti-money laundering and
anti-terrorist financing monitoring body, the Financial Action Task
Force.

He said also said the government was also poised to ensure that
the suspension of Nigeria from the world financial intelligence
body, Egmont Group of Financial Intelligence Unit, was lifted.

Special Adviser to the AGF on Media and Publicity, Mr. Salihu
Isah, said in a statement that the minister recently received a
letter from the FATF warning that Nigeria’s “failure to implement
the Egmont Group requirement will have serious consequences”.

TheNigerialawyer recalls that the FATF letter l dated August 29,
2017 and signed by its President, Santiago Otamedi, informed the
AGF that there could be “implications” should Nigeria fail to
address the “concerns” leading to the suspension of the NFIU from
the Egmont group before November 20, 2017.

But, the minister, through the statement issued by his media
aide on Sunday stated that the Federal Government “is not resting
on its oars to do the needful”.

The statement read in part, “However, the Federal Government is
not resting on its oars to do the needful to attain the FATF demand
on the Nigerian Financial Intelligence Unit to qualify it for
membership under the Egmont Group of FIUs.

“To achieve this, then Acting President, Professor Yemi
Osinbajo, SAN had constituted a powerful ad hoc-committee chaired
by Senator Chukwuka Utazi, the Chairman, Senate Committee on
Anti-Corruption and Financial Crimes with specific terms of
reference to ensure the nation meets the requirements as demanded
by Egmont Group and FATF.

“It has since concluded its work and submitted its report to the
presidency.”

The statement said that the FATF delegation would be visiting
Nigeria “to confirm FG’s level of commitment to its objectives,
especially its standards.”

It added, “FATF secretariat in France through a letter dated 29
August 2017 titled, ‘Suspension of Egmont Group membership status
of the Nigerian Financial Intelligence Unit’, also affirmed that
the visit will provide FATF member nations the assurance that
Nigeria is ready to undergo a successful mutual evaluation within
three years.”

The Attorney-General of the Federation and Minister of Justice,
Mr. Abubakar Malami (SAN), on Sunday assured Nigerians that the
Federal Government would do the needful to ensure that Nigeria
secured the membership of the global anti-money laundering and
anti-terrorist financing monitoring body, the Financial Action Task
Force.

He said also said the government was also poised to ensure that
the suspension of Nigeria from the world financial intelligence
body, Egmont Group of Financial Intelligence Unit, was lifted.

Special Adviser to the AGF on Media and Publicity, Mr. Salihu
Isah, said in a statement that the minister recently received a
letter from the FATF warning that Nigeria’s “failure to implement
the Egmont Group requirement will have serious consequences”.

TheNigerialawyer recalls that the FATF letter l dated August 29,
2017 and signed by its President, Santiago Otamedi, informed the
AGF that there could be “implications” should Nigeria fail to
address the “concerns” leading to the suspension of the NFIU from
the Egmont group before November 20, 2017.

But, the minister, through the statement issued by his media
aide on Sunday stated that the Federal Government “is not resting
on its oars to do the needful”.

The statement read in part, “However, the Federal Government is
not resting on its oars to do the needful to attain the FATF demand
on the Nigerian Financial Intelligence Unit to qualify it for
membership under the Egmont Group of FIUs.

“To achieve this, then Acting President, Professor Yemi
Osinbajo, SAN had constituted a powerful ad hoc-committee chaired
by Senator Chukwuka Utazi, the Chairman, Senate Committee on
Anti-Corruption and Financial Crimes with specific terms of
reference to ensure the nation meets the requirements as demanded
by Egmont Group and FATF.

“It has since concluded its work and submitted its report to the
presidency.”

The statement said that the FATF delegation would be visiting
Nigeria “to confirm FG’s level of commitment to its objectives,
especially its standards.”

It added, “FATF secretariat in France through a letter dated 29
August 2017 titled, ‘Suspension of Egmont Group membership status
of the Nigerian Financial Intelligence Unit’, also affirmed that
the visit will provide FATF member nations the assurance that
Nigeria is ready to undergo a successful mutual evaluation within
three years.”