Director General of the Securities and Exchange Commission, SEC, Dr. Emomotimi, Agama has commended Nigerias removal from the Financial Action Task Force, FATF, grey list, describing it as a clear reflection of the countrys renewed policy direction and commitment to transparency.
The FATF maintains "grey" and "black" lists for countries it has identified as not meeting its standards. It considers grey list countries to be those with strategic deficiencies" in their anti-money laundering regimes, but which are nonetheless working with the organisation to address them. FATF on Friday announced the delisting of Nigeria from its grey list of countries with deficiencies in anti-money laundering and counter-terrorism financing frameworks.