Nigeria's progress in measures to combat money laundering and terrorist financing

Publication details

Country
Nigeria Follow-Up Report 2023

Overall, Nigeria has made significant progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation.

The country has been re-rated on the following Recommendations:

  • Recommendation 1  is upgraded from Partially Compliant to Largely Compliant
  • Recommendation 2  is upgraded from Partially Compliant to Largely Compliant
  • Recommendation 6  is upgraded from Partially Compliant to Largely Compliant
  • Recommendation 8  is upgraded from Non Compliant to Compliant
  • Recommendation 33 is upgraded from Partially Compliant to Compliant
  • Recommendation 34 is upgraded from Partially Compliant to Compliant

Nigeria has 32 Recommendations rated C/CL. Nigeria will remain in Enhanced Follow-up based on effectiveness ratings. Nigeria's next Enhanced FUR is due in November 2024.

GIABA - Follow-Up Report Nigeria - 2023

Filename
Nigeria-GIABA-Follow-Up-Report-ENG-2024.pdf
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4 MB
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Translated documents

GIABA Nigeria Rapport de suivi - 2023

Filename
Nigeria-GIABA-Follow-Up-Report-FRE-2024.pdf
Size
4 MB
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application/pdf
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GIABA Nigeria Relatorio de Seguimento - 2023

Filename
Nigeria-GIABA-Follow-Up-Report-POR-2024.pdf
Size
4 MB
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application/pdf
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Earlier reports

Related materials

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system
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The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024