The Egmont Group has confirmed the lifting of the suspension of Nigeria from the group’s membership.
Egmont Group is a body of the sovereign financial intelligence units in 155 Financial Intelligence Units (FIUs).
The Egmont Group provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing (ML/TF).
This is especially relevant as FIUs are uniquely positioned to cooperate and support national and international efforts to counter terrorist financing and are the trusted gateway for sharing financial information domestically and internationally in accordance with global Anti Money Laundering and Counter Financing of Terrorism (AML/CFT) standards.
The suspension of Nigeria was as a result of the subjugation of the Nigerian Financial Intelligence Unit under the supervision of the Economic and Financial Crimes Commission, EFCC.