In a renewed drive to strengthen Nigeria’s Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regime, the Economic and Financial Crimes Commission (EFCC) and Designated Non-Financial Businesses and Professions (DNFBPs) have reaffirmed their commitment to deepen collaboration in support of the country’s efforts to exit the Financial Action Task Force (FATF) grey list.
This resolve was underscored during a series of strategic engagements led by Harry Erin, the newly appointed EFCC Director of the Special Control Unit against Money Laundering (SCUML), who paid courtesy visits to key stakeholders including the Association of Trustees, Segilola Resources Operating Limited, and others between 2 and 3 April 2025.
Dele Oyewale, EFCC’s Head, Media & Publicity on Thursday disclosed this in a statement.
The theme of the engagements was: “Strengthening Strategic Partnerships for Effective AML/CFT Compliance: Exiting the FATF Grey List and Beyond.”
During a meeting with the leadership of the Nigerian Network of NGOs (NNNGO) — a national coalition representing over 4,000 civil society organisations — discussions focused on building the compliance capacity of Non-Profit Organisations (NPOs), streamlining compliance requirements, and developing accessible templates to ease adherence to AML/CFT obligations.
In a separate session, Erin commended the efforts of civic group Space for change for its regulatory compliance clinics and advocacy work within the digital and civil society space. He noted that such initiatives are instrumental in bridging knowledge gaps and fostering regulatory engagement across the NGO sector.
At a meeting with the Lagos State Gaming and Lottery Authority (LSGLA), Erin reiterated SCUML’s dedication to promoting efficient compliance through strategic partnerships. He, however, stressed the importance of complementing these efforts with firm enforcement and sanctions against non-compliant entities.
“Exiting the FATF grey list is not the final destination,” he said. “It must serve as a launchpad for instituting lasting reforms across all DNFBPs.”
Further discussions with LSGLA explored areas for collaboration in supervising market entry, tightening compliance frameworks, and curbing illicit financial flows in the gaming industry.
In a related development, the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) acknowledged SCUML’s evolving role within the compliance architecture during its engagement with the Director. The association called for more robust engagements with the EFCC to ensure clearer regulatory alignment and improved implementation of expectations across banking compliance operations.
These series of engagements underscore a strategic shift towards inclusivity and partnership in Nigeria’s AML/CFT compliance drive, aimed at achieving long-term reforms and securing the country’s removal from the FATF grey list.
