Nigeria has become the
First country in the
West-African Sub-region to be admitted into the Egmont
Group of
Financial Intelligence Units (FIUs).
The Egmont
Group is an
International network of FIUs formed in 1995 to promote the
Exchange of
Financial intelligence
Information and enhance
Global co-operation in the fight against money laundering and terrorist financing.
The Egmont
Group recently established a permanent secretariat in Toronto, Canada. The decision to admit
Nigeria into the
Group is an endorsement of the country\'s anti money laundering / combatting of financing of terrorism (AML/CFT) programme and a vote of
Confidence in the operations of its
Financial Intelligence
Unit was reached by head of
All FIUs in the
Group following an earlier favourable recommendation by its Legal Working
Group .
At the event which took place last week in Hamilton,
Bermuda , in the citation for
Nigeria , the Egmont
Group leadership noted the removal of
Nigeria from the
Financial Action Task Force (FATF) list of Non-cooperative countries and Territories (NCCTs), commended the
Law enforcement efforts of the country and intensified with the strong
Government support in the fight against
Financial crimes, money laundering and terrorist financing.
Five other countries namely; Armenia,
India , Belarus, Nive and Syria were also admitted bringing the
Total membership of the Egmont
Group to 106 countries.
There
Are now four
African countries -
Nigeria , South
Africa , Mauritius and Egypt in the fold.
