Nigeria is to begin the profiling of some non-profit organizations (NGOs) in the country in order to ensure compliance with regulations against money laundering and terrorist financing, an official said Wednesday.
This is going to be a continuous exercise to profile and see the NGOs that are actually committed to their main cause and those not committed to any cause, Francis Usani, a Director with the Nigerian Financial Intelligence Unit (NFIU) said in Abuja, Nigeria's capital.
He spoke at a regional workshop on money laundering organized by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).
The three-day workshop is aimed at developing effective frameworks and structure to fight against money laundering and terrorist financing through non-profit organizations.
Usani told his audience that the profiling would address some deficient NGOs in the country, noting that these will probably be de-listed and maybe their registrations are removed.
According to him, there has been this misunderstanding by some NGOs who had come out to oppose the regulations put in place by the government but these are for international best practice.