* Says performance will shape outcome, investors’ confidence in economy
* NFIU: Financial intelligence needs investigation, prosecution to succeed
Alex Enumah in Abuja
As Nigeria begins preparations for the 2027 Financial Action Task Force (FATF) Mutual Evaluation, the Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN), has urged all law enforcement agencies in the country to work together to ensure the country excels in the evaluation exercise.
Fagbemi gave the charge on Thursday in Abuja, at the opening of the Federal Ministry of Justice’s AML/CFT/CPF Stocktake Exercise.
The event, according to the AGF, is aimed at increasing strengths, correct deficiencies and build institutions that future generations of Nigerians will be proud to inherit.
“Today is not merely another meeting on our official calendar. It is a moment of truth—a moment to honestly ask ourselves whether our institutions are delivering justice with integrity, safeguarding our nation against financial crime, and earning the confidence of both Nigerians and the international community,” he said.
Speaking further, the minister told participants that Nigeria’s successful exit from the FATF Grey List was not an accident, but a product of vision, discipline, collaboration and sacrifice.
“It demonstrated that when government institutions pull in one direction, even the steepest mountain becomes a pathway.
“Our exit from the Grey List was not our destination; it was only a milestone. The true measure of our success is not where we have come from, but where we are determined to go,” Fagbemi said.
According to the AGF, Nigeria must showcase to the international community the gains recorded in the fight against money laundering, terrorism financing and other related financial crimes.
While observing that the Federal Ministry of Justice, as an institution stands at the intersection of law, justice, prosecution, international cooperation and asset recovery, the AGF stressed that: “Our performance will shape not only the outcome of this Mutual Evaluation but also the confidence investors place in our economy, the respect our nation commands internationally, and the future security of generations yet unborn.”
Acknowledging that no single institution can win the battle alone, Fagbemi stated that success can only come through genuine collaboration, mutual trust, accountability and a shared commitment to national service.
“I therefore urge every officer participating in this exercise to approach it with openness, professionalism and courage.
“This is not an audit designed to expose weaknesses. It is an opportunity to strengthen strengths, correct deficiencies and build institutions that future generations of Nigerians will be proud to inherit.
“Let us remember that excellence is never accidental. It is the product of deliberate preparation, disciplined execution and unwavering integrity.
“History does not celebrate those who merely occupied offices. History remembers those who transformed institutions. History remembers those who left systems stronger than they met them.
“Let this be our collective legacy,” the AGF urged.
In her remarks, the Chief Executive Officer of the Nigeria Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, said the effectiveness of Nigeria’s anti-money laundering framework ultimately depends on the people and institutions entrusted with enforcing it, rather than on legislation alone.
She credited the Ministry of Justice with providing the legal foundation for the country’s AML/CFT regime, citing its role in legislative reform, mutual legal assistance, asset recovery and international cooperation.
Bakari said financial intelligence alone was insufficient unless it translated into investigations, prosecutions and ultimately, public confidence in the justice system.
She commended the ministry’s leadership in driving reforms that have strengthened Nigeria’s standing within the global AML/CFT community, and said its role would remain central as the country prepares for the 2027 review.
The exercise was organised by the NFIU to evaluate Nigeria’s institutional readiness ahead of the Mutual Evaluation.