The Guardian Newspaper reports the Financial Action Task Force (FATF)- the body that is combating corruption practices related to money laundering and terrorist financing has taken Nigeria off the Money Laundering and Terrorist funding list. According to the report, the deletion of Nigeria from the list means
Nigeria is expected to harvest improved foreign direct investments into the country while Nigerians travelling overseas are now to enjoy dignified treatment, particularly at the ports of entry of their respective destinations, by security operatives of those countries.
Beyond that, does it now mean the cost of foreign transaction will reduce in Nigeria? I also hope the likes of Paypal and other online international financial services companies can now start to honour transactions emanating from Nigeria.
Get the full story from Guardian here
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