Close This website uses modern features that are not supported by your browser. Click here for more information.
Please upgrade to a modern browser to view this website properly. Google Chrome Mozilla Firefox Opera Safari
your legal news hub
Sub Menu



Minister addresses illicit financial flows

Publish date: 27 November 2023
Issue Number: 1055
Diary: IBA Legalbrief Africa
Category: Nigeria

Nigeria has called on the Action Group Against Money Laundering in West Africa to develop an institutional framework for the enforcement of financial crimes regulations in the region. The Premium Times reports that Justice Minister Lateef Fagbemi made the appeal at the launch of the group's 27th meeting in Abuja last week. Fagbemi, who is also the chairperson of the group’s ministerial committee, said member countries should prioritise their national systems on targeting money laundering and combating the financing of terrorism. ‘Our collective commitment to put in place legislative policy and institutional frameworks is necessary to protect the integrity of our financial systems from threats of money laundering, terrorist and proliferation financing,’ he said. He added that the Financial Action Task Force Standards are not punitive measures, but tools to ensure safety, security and prosperity in countries, regions, continents and the global community.

Full Premium Times report

We use cookies to give you a personalised experience that suits your online behaviour on our websites. Otherwise, you may click here to learn more, or learn how to block or disable cookies. Disabling cookies might cause you to experience difficulties on our website as some functionality relies on cookie information. You can change your mind at any time by visiting “Cookie Preferences”. Any personal data about you will be used as described in our Privacy Policy.