Nigeria has been added to a blacklist of nations that pose global threat because of leniency as it relates to controlling financial activities of terrorists, as well as money laundering.

The European Commission also added Saudi Arabia, Panama, and other jurisdictions to the blacklist, the EU executive said on Wednesday.

According to Reuters, low sanctions against money laundering and financing terrorism, insufficient cooperation with the EU and lack of transparency regarding company beneficiaries, constitute the criteria used to blacklist countries.

Being on the blacklist does not only constitute reputational damage, it will also complicate financial relations with the EU, as the bloc’s banks will have to carry out additional checks on payments involving entities from listed jurisdictions.

Digital Economy lawyer Adavize Alao explained to LawyardNG that this action would complicate financial transactions with the EU as extra scrutiny would be given to fund transfers originating from Nigeria. He further added that EU in circulating this list across its member states would embark on comprehensive Due dilligence on every fund with Nigerian origin and this would make Nigerian transactions easy pickings for the EU member state FIUs

.".......In 2012, Nigeria was placed at 139th position, In 2014, Nigeria gained 3 steps and was placed at 136th position.Under Buhari, Nigeria has lost many positions down to 148th..."
http://saharareporters.com/2018/02/21/transparency-international-ranks-nigeria-148th-worlds-least-corrupt-country

The Economic and Financial Crimes Commission has confirmed the authenticity of the video showing the Kano State Governor, Umar Ganduje, allegedly receiving millions of dollars as bribe.

SATURDAY PUNCH gathered that forensic analysis of the video showing Ganduje receiving bribe from a contractor indicated that the video was not digitally cloned as claimed by some of his loyalists.
https://punchng.com/political-considerations-stalling-ganduje-bribery-probe-investigation/

kayfra:
EU dey craze. Where have African dictators and lootocrats been keeping their money? No be for Europe?

Hypocrites gbogbo. Double standard mofos

fallout87:


Do you know the difference between money laundering and investing/spending?

If you don't be quiet because you are making yourself look foolish.

African Dictators take money overseas to spend and invest. Terrorists look to clean enormous sums of money so they launder it in countries like Nigeria which are very corrupt and lax on monetary and financial laws.

Please next time educate yourself before you embarrass yourself.