The Corporate Affairs Commission (CAC) has expressed its commitment to strengthen its partnership with the Nigeria Financial Intelligence Unit (NFIU) to facilitate Nigeria’s removal from the Financial Action Task Force’s (FATF) gray list.
During a courtesy visit by NFIU Director/CEO Hafsat Bakari, CAC Registrar-General and CEO Ishaq Magaji reaffirmed this commitment, emphasizing the need for coordinated efforts.
In a statement posted on its official platform, CAC announced the immediate establishment of a joint committee with NFIU and the creation of a dedicated desk to address mutual concerns.
Magaji urged NFIU to maximize the use of the Software Programming Interface provided by CAC and advocated for enhanced information sharing and capacity building for staff.
Furthermore, Magaji highlighted plans to review the existing Memorandum of Understanding (MOU) between the two agencies to optimize efficiency.
Bakari acknowledged the strong relationship between NFIU and CAC in combating money laundering, illicit financial flows, and other predicate offenses in Nigeria. She praised CAC’s efforts in developing a world-class Beneficial Ownership Information Register, which is instrumental in tracing and identifying illicit proceeds beneficiaries.
Bakari stressed the importance of collaboration between both agencies to support the Federal Government’s efforts in removing Nigeria from the FATF gray list promptly. She emphasized CAC’s pivotal role, as two of the 15 action plan items directly fall under its purview.