FG moves to exit FATF grey list with airport reforms

Federal Airports Authority of Nigeria, FAAN, and the Nigeria Customs Service, NCS, have expressed commitment to combating money laundering and enhancing passenger experience at the Murtala Muhammed International Airport, MMIA, Lagos.

The collaboration would strengthen border control, trade facilitation and compliance with global financial standards.

Speaking during a recent joint inspection tour of the airport, Managing Director of FAAN, Mrs Olubunmi Kuku, said passengers arriving or departing Nigeria were required by law to declare any amount exceeding $10,000, stressing that additional measures were being reinforced at arrival points to monitor compliance more effectively.

She said: “There is a shared determination to rid our entry and exit points of illegal financial transactions. Our collaboration with Customs, particularly on currency declaration and enhanced security screening, is a significant step in safeguarding our borders and improving Nigeria’s global standing.”

On his part, Comptroller General of NCS, Adewale Adeniyi, said it has automated the currency declaration process, with plans to integrate it with immigration’s passenger arrival cards and declaration forms.

According to him, this move would simplify compliance and enhance data sharing, thereby contributing to Nigeria’s removal from the FATF grey list.

He also expressed optimism that the progress made would meet the FATF’s expectations, saying a review team would visit Nigeria in the coming weeks.

He said: “The Financial Action Task Force team will visit Nigeria in a matter of weeks, and we believe that we have put in place enough measures to get them satisfied and remove Nigeria from the list.”

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