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Nigeria’s ‘dirty-money’ blacklist is strange – GIABA

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The Inter-Governmental Action Against Money Laundering and Terrorists Financing in West Africa (GIABA) has said it is not aware of the European Commission’s adding of Nigeria to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering.

Apart from reputational damage, inclusion on the list complicates financial relations with the EU.

The bloc’s banks will have to carry out additional checks on payments involving entities from listed jurisdictions.

GIABAs Information Manager in Nigeria, Mr Timothy Melaye, in an exclusive chat with Daily Trust said: “My office is not aware of any evaluation that has resulted in the blacklist.”

Daily Trust, Friday 22, February.

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