Stakeholders canvass Nigeria’s removal from FATF’s grey list to curb remittance costs

Stakeholders are calling for Nigeria’s removal from the grey list of Financial Action Task Force (FATF), with a view to reducing high transaction costs for remittance flows.

Being placed on the grey list signifies that a country is under intensified scrutiny by the FATF due to identified strategic deficiencies in its systems to combat financial crimes.

During the 2024 World Bank/IMF Spring Meetings on Wednesday, stakeholders convened at a roundtable organised by the Central Bank of Nigeria (CBN) focused on enhancing remittance flows into Nigeria.