• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Despite anti-corruption war, EU blacklists Nigeria for money laundering

Damilare Famuyiwa by Damilare Famuyiwa
February 14, 2019
in Business News, Politics
Buhari - Despite anti-corruption war, EU blacklists Nigeria for money laundering

President Muhammadu Buhari

Share on FacebookShare on TwitterShare on Linkedin

Nigeria under the incumbent administration of President Muhammadu Buhari, should be seen as a country that money laundering is curbed. This is because of Buhari’s campaign against corruption at all levels of social stratification in the country.

The corruption war by Buhari seems to have failed in curbing money laundering and terror financing risks, as European Commission blacklisted Nigeria as one of the countries posing threat to the European Union (EU) banks.

The move to blacklist some nations is said to be part of a crackdown on money laundering after several scandals at EU banks has been criticised by several EU countries, including Britain, who are worried about their economic relations with the listed countries.

RelatedStories

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

July 10, 2025
Nigerian farmers to repay NASENI’s irrigation support with harvest portions 

European Union, NASRDA to launch satellite farming project for food security in Nigeria 

July 7, 2025

The jurisdictions

Nigeria alongside Saudi Arabia, Panama and other jurisdictions were added by the Commission to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering.

The list now includes 23 jurisdictions, up from 16, with the commission saying it added jurisdictions with “strategic deficiencies in their anti-money laundering and countering terrorist financing regimes”.

Also, newcomers to the list are Libya, Botswana, Ghana, Samoa, the Bahamas and the four United States territories of American Samoa, US Virgin Islands, Puerto Rico and Guam.

The other listed countries are Afghanistan, North Korea, Ethiopia, Iran, Iraq, Pakistan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.

Criteria for blacklisting

Criteria used to blacklist countries for money laundering and terror financing risks, include weak sanctions against money laundering and terrorism financing, insufficient cooperation with the EU on the matter and lack of transparency about the beneficial owners of companies and trusts.

Consequence

Apart from reputational damage, inclusion on the list complicates financial relations with the EU. The bloc’s banks will have to carry out additional checks on payments involving entities from listed jurisdictions.


Follow us for Breaking News and Market Intelligence.
Tags: EUEuropean UnionMoney LaunderingPresident Muhammadu Buhari
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 
Business News

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

July 10, 2025
Nigerian farmers to repay NASENI’s irrigation support with harvest portions 
Agriculture

European Union, NASRDA to launch satellite farming project for food security in Nigeria 

July 7, 2025
FG, EU, UNICEF unveil N21.7 billion sustainable social safety initiative in Nigeria 
Business News

FG, EU, UNICEF unveil N21.7 billion sustainable social safety initiative in Nigeria 

June 25, 2025
EU faces widening skilled labor shortage, looks to recruit foreign workers
"Japa"

EU announces 42 high-demand jobs for foreign workers in 2025  

June 16, 2025
EU allocates €510 million for humanitarian aid in Nigeria, other Sub-Saharan African nations 
Agriculture

EU launches agribusiness platform to drive inclusive growth and food security in Nigeria’s agriculture 

May 23, 2025
European commission opens blue book traineeship programme for graduates
Economy

EU commits €300 million to new projects in Nigeria’s North-West and North-East regions 

May 10, 2025
Next Post
Nigeria's 2019 presidential election, Atiku vs Buhari, Nigeria's 2019 election

Whoever wins Saturday's election has their job cut out for them

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics