EFCC, NFIU Begin Joint Review Ahead of FATF 2027 Mutual Evaluation

 The Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) have commenced a three-day joint review aimed at assessing Nigeria’s preparedness for the 2027 Mutual Evaluation of the Financial Action Task Force (FATF).

 The exercise, which began on September 29, 2026, at the EFCC headquarters, is focused on key areas of Nigeria’s anti-money laundering and counter-terrorist financing framework, including asset tracing, financial intelligence sharing and prosecution outcomes.

 The review comes after Nigeria’s provisional removal from the FATF Grey List in late 2025. The latest assessment is intended to evaluate progress in implementing the country’s commitments and identify areas requiring further strengthening ahead of the next mutual evaluation.

 The EFCC and NFIU are expected to scrutinise operational results and enforcement measures to determine whether existing systems are producing effective outcomes in the recovery of illicit assets, dissemination of financial intelligence and prosecution of financial crimes.

 Maintaining compliance with FATF standards remains significant for Nigeria’s financial system, as weaknesses in anti-money laundering and counter-terrorist financing controls can affect international financial relationships and increase regulatory scrutiny.

 The joint review is therefore expected to provide an opportunity for the agencies to address identified gaps and strengthen Nigeria’s compliance framework before the 2027 assessment.