Gloria Essien, Abuja
The Chairman of the House of Representatives Committee on Financial Crimes, Mr Ginger Obinna Onwusibe, has lauded the Nigerian government and key institutions on the country’s historic removal from the Financial Action Task Force (FATF) grey list, describing the development as a “national victory for integrity, resilience, and inter-agency collaboration.”
He commended the Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), other law enforcement and regulatory agencies, as well as the Federal Ministry of Justice, for their dedication and cooperation throughout the reform process.
“This achievement is the product of years of hard work and synergy among our institutions. It restores global confidence in Nigeria’s financial system and demonstrates that our country can meet the highest international standards of transparency and accountability,” Mr Onwusibe said.
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He also lauded the National Assembly for passing key legislative reforms, including amendments to the Money Laundering (Prevention and Prohibition) Act, the Terrorism (Prevention and Prohibition) Act, and the Proceeds of Crime (Recovery and Management) Act — all of which have strengthened Nigeria’s legal framework for combating money laundering, terrorism financing, and illicit financial flows.
He noted: “As Chairman of the House Committee on Financial Crimes, I am proud that our committee contributed to this milestone achievement through diligent and effective oversight of both the NFIU and the EFCC.”
Mr Onwusibe urged stakeholders to sustain the momentum to ensure Nigeria never returns to the grey list, reaffirming the Committee’s commitment to continuous legislative oversight and institutional support for financial integrity and reform.