In a bid to address the challenges of money laundering and terrorism financing, Federal Government of Nigeria has indicated willingness to join membership of the global Financial Action Task Force (FATF) on money laundering and terrorist financing watchdog.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN made this known as he virtually participated at the Extraordinary Ministerial Committee Meeting of the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA).

This was made known by Dr. Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations, Office of the Attorney General of the Federation and Minister of Justice, in a statement made available to newsmen in Abuja.

The FATF monitors 39 member countries to ensure fully and effective implementation of FATF Standards thereby holding nations that do not comply accountable.

According to Malami, Nigeria’s Financial Intelligent Unit has issued Executive Alert was issued to all Ministries, Departments and Agencies` (MDA) for the implementation of the Action Plan on Nigeria follow up process.

The Minister appreciated FATF, GIABA and Member States of GIABA for reviewing and adopting the just concluded 2nd Mutual Evaluation Report (MER) of Nigeria.

Malami stated that the purpose of the subsequent high rating of the technical compliance and effective for the Country on follow up review, MDAs have been directed to constitute an internal Technical Committee to review the report and work out modalities for implementation.

He assured the member States that Nigeria is willing and ready with high level commitment in addressing money laundering and terrorism financing in order to have stable and peaceful nation.

He added that where the implementation process and follow up evaluation on the MER is concluded, Nigeria further request the support of GIABA to commence the application for membership into FATF.