CSO/MEDIA REVIEW: HEALTH MINISTER PATE SCORES FG HIGH ON HEALTH SECTOR REFORMS. (PHOTOS).

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 CSO/MEDIA REVIEW: HEALTH MINISTER PATE SCORES FG HIGH  ON HEALTH SECTOR REFORMS The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, says civil society organisations play a critical role in strengthening Nigeria’s health system by providing feedback, identifying gaps and helping government translate policies into programmes that improve lives. The CSO/Media-Led Mid-Year Review of Nigeria’s Health Sector Reforms and Policy Dialogue on Monday, Prof. Pate stressed the need for sustained engagement between government, civil society and other stakeholders to achieve better health outcomes. The Minister said the Federal Government, under President Bola Tinubu, recognises that rebuilding the health system after years of underinvestment will take time. He highlighted key reforms under the Health Sector Renewal Investment Initiative, including stronger governance and accountability, increased health financing, the revitalisation of nearly 4,000 primary heal...
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NIGERIA COMPLETES 30% ACTION PLAN TO EXIT FATF GREY LIST. (PHOTO).

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 Nigeria completes 30% action plan to exit FATF grey list


Nigeria has moved closer to exiting the Financial Action Task Force’s (FATF) grey list.

This connotes that Nigeria has increased monitoring of identified deficiencies in combating money laundering, terrorist financing, and proliferation financing.

According to a statement released by the Nigerian Financial Intelligence Unit (NFIU), “Nigeria has completed 30% of the Action Plan developed as part of the greylisting process.”

This progress report was well-received by the FATF, resulting in the approval of Nigeria’s third Progress Report at the June 2024 FATF Plenary meeting in Singapore.

The FATF further acknowledged Nigeria’s efforts by granting two upgrades in this round. These positive developments suggest Nigeria is on track to exit the grey list in early 2025, as initially targeted.

The statement noted that the NFIU Chief Executive Officer, Ms. Hafsat Abubakar Bakari, participated in the plenary meeting. 

As the current Chair of the Technical Commission of the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA), Ms. Bakari reaffirmed Nigeria’s commitment to fully implementing the Action Plan.  She also provided updates on GIABA’s progress in strengthening its technical capacity to combat financial crimes.

The FATF grey list serves as a monitoring mechanism for countries with strategic deficiencies in their Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) regimes.  Inclusion on this list prompts countries to address these deficiencies within a specified timeframe.

The presence of high-level representatives from Nigeria, including the heads of the Economic and Financial Crimes Commission (EFCC) and the Special Control Unit against Money Laundering (SCUML), underlines the government’s commitment to tackling financial crimes and achieving a more robust AML/CFT framework.

Nigeria’s progress report approval and positive feedback from the FATF are encouraging signs.  Continued implementation of the Action Plan is crucial for exiting the grey list by early 2025.  This will demonstrate Nigeria’s dedication to financial transparency and a more secure financial system.

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