Abuja - Nuhu Ribadu, the former chairman of Economic and Financial Crime Commission (EFCC), slammed government after the inclusion of Nigeria among countries that are hotspots for corruption and financial crimes.
It emerged this week the Financial Action Task Force on Money Laundering (FATF), an inter-governmental body developing and promoting policies to combat money laundering and terrorist financing, had again listed the West African country.
"It is sad that the country got back to the list despite several warning by the FATF to the Nigeria government," Ribadu said in Abuja.
He urged government to show more commitment in fighting rampant crime.
“The only guarantee for Nigeria’s removal from FATF is to show serious commitment in fighting corruption and financial crimes,” Ribadu said.
Nigeria was first listed among FATF’s non-cooperating countries and territories in July 2001 but was removed from the list by the FATF Advisory Board five years later after making efforts to counter such crimes.
It received $18 billion in debt relief following its removal.
In response to mounting concern over money laundering, the G-7 Summit that was held in Paris in 1989 established FATF.
- CAJ News