NIGERIA EXPECTS TO BE REMOVED FROM A BLACKLIST OF COUNTRIES THAT DO NOT COOPERATE IN THE FIGHT AGAINST MONEY LAUNDERING AFTER STRENGTHENING ITS LAWS AND THEIR IMPLEMENTATION, THE PRESIDENCY SAID ON WEDNESDAY ACCORDING TO REUTERS. NIGERIA, RANKED AMONG THE WORLD'S MOST CORRUPT COUNTRIES, WAS BLACKLISTED IN 2001 BY THE PARIS-BASED FINANCIAL ACTION TASK FORCE (FATF) BECAUSE ITS ANTI-MONEY LAUNDERING LAWS AND THE ENFORCEMENT REGIME WERE WEAK. IT IS ONE OF ONLY TWO COUNTRIES LEFT ON THE LIST. THE OTHER ONE IS MYANMAR. "THE FATF HAS ANNOUNCED AN ON-SITE VISIT TO NIGERIA FROM MAY 9-11. IT IS EXPECTED THAT THE VISIT WILL LEAD TO NIGERIA'S REMOVAL FROM THE FATF LIST OF NON-COOPERATING COUNTRIES DURING ITS JUNE PLENARY IN PARIS," THE PRESIDENCY SAID IN A STATEMENT. THE FATF GROUPS 33 COUNTRIES AND SETS POLICIES DESIGNED TO HELP GOVERNMENTS TACKLE THE FINANCING OF TERRORISM AND DIRTY MONEY PASSING THROUGH THE GLOBAL FINANCIAL SYSTEM. THE PRESIDENCY SAID THE FATF HAD MOVED NIGERIA IN FEBRUARY TO THE FINAL STAGE OF THE DE-LISTING PROCESS AFTER FINDING THAT IT HAD MADE SUBSTANTIAL PROGRESS. THE STATEMENT CITED AN ANTI-MONEY LAUNDERING ACT THAT CAME INTO LAW IN 2004 AND THE ACTIONS OF THE ANTI-CORRUPTION ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) CREATED IN 2003. THE EFCC HAS SECURED NUMEROUS CONVICTIONS AGAINST E-MAIL SCAMMERS WHO ENGAGE IN SO-CALLED ADVANCE FEE FRAUD -- A NIGERIAN SPECIALTY -- INCLUDING A GROUP OF FRAUDSTERS WHO STOLE $242 MILLION FROM A BRAZILIAN BANK. THE EFCC'S RECORD ON TACKLING CORRUPTION AMONG ELECTED OFFICIALS, HOWEVER, IS CONTROVERSIAL IN NIGERIA. CRITICS SAY IT HAS BEEN POLITICALLY-MANIPULATED AS A WEAPON AGAINST OPPONENTS OF PRESIDENT OLUSEGUN OBASANJO. THE EFCC DENIES THIS. DESPITE OBASANJO'S MUCH-PUBLICISED EFFORTS TO FIGHT ENDEMIC CORRUPTION, NIGERIA IS LISTED AS THE WORLD'S SIXTH MOST CORRUPT COUNTRY BY INDEPENDENT WATCHDOG TRANSPARENCY INTERNATIONAL.
