Nigeria’s National Information Technology Development Agency has unveiled plans to transform the Nigeria Financial Intelligence Unit’s data management system. The initiative, dubbed Project Exit, aims to tackle financial challenges and boost the country’s digital transformation efforts.
The project seeks to address deficiencies highlighted in the Mutual Evaluation Report, which noted gaps in data availability and analysis hindering Nigeria’s ability to combat money laundering and terrorism financing. These shortcomings led to Nigeria’s placement on the Financial Action Task Force Grey List, damaging the country’s global financial reputation and limiting access to international markets.
President Bola Tinubu has approved the National Information Technology Development Agency’s leadership role in enhancing Nigeria’s Anti-Money Laundering, Counter Financing of Terrorism, and Counter Proliferation Financing data management framework.
The project aims to achieve FATF compliance, enabling Nigeria’s removal from the Grey List and restoring international confidence. It will enhance the NFIU’s operational capacity through automation, intelligence integration, and scalability, establishing a sustainable framework for future FATF evaluations and international assessments.
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