The Federal Airport Authority of Nigeria (FAAN) and the Nigeria Customs Service (NCS) have announced a strategic partnership aimed at securing Nigeria’s removal from the Financial Action Task Force’s (FATF) grey list.
The announcement was made over the weekend following a joint inspection of the Lagos airport’s international terminal by FAAN Managing Director Olubunmi Kuku and NCS Comptroller-General Adewale Adeniyi.
FATF, the global watchdog established in 1995 to combat money laundering, terrorism financing, and proliferation risks, placed Nigeria on its grey list on February 24, 2023. The designation was due to rising capital inflows and identified weaknesses in Nigeria’s efforts to counter illicit financial activities.
Since then, Nigerian agencies have intensified efforts to address these shortcomings and achieve delisting.
Beyond the focus on FATF delisting, both FAAN and NCS officials emphasized their shared commitment to improving passenger and cargo processing efficiency at Nigerian airports. In recent months, FAAN has introduced advanced screening technologies, including e-gates, to bolster airport security and passenger safety.
FAAN’s Managing Director reiterated the legal requirement for travelers entering or leaving Nigeria to declare any amount exceeding $10,000. She added that enforcement at arrival points is being strengthened to ensure full compliance.
“There is a joint resolve to eliminate illegal financial transactions at our borders. Working closely with other government agencies, we are determined to get Nigeria off the grey list by curbing money laundering and illicit financial flows,” Kuku stated.
She described the enhanced collaboration with Customs as a reflection of inter-agency synergy designed to enhance passenger experience and trade facilitation.
Kuku also highlighted an agreement with Customs to reduce the number of officers interacting directly with passengers, leveraging automation to streamline processes.
On his part, Adeniyi revealed that FATF inspectors are expected in Nigeria within weeks to assess the country’s progress. He praised FAAN’s efforts in providing designated currency declaration points for arriving and departing travelers.
“Regarding Nigeria’s removal from the FATF grey list, I am satisfied with the measures FAAN has implemented, including designated declaration areas,” Adeniyi said.
He further noted the Customs Service’s advancements in process automation, with plans to integrate currency declaration forms with passenger arrival and departure documents managed by the Nigeria Immigration Service.
“We anticipate the FATF inspection team soon and believe our preparations will meet their expectations. More importantly, today’s meeting has laid the groundwork for deeper cooperation to resolve outstanding challenges,” Adeniyi concluded.
