EU adds Nigeria, Saudi to dirty-money blacklist - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Wednesday 13 February 2019

EU adds Nigeria, Saudi to dirty-money blacklist

EU adds Nigeria, Saudi to dirty-money blacklist

EU

Nigeria, Saudi Arabia and Panama are among the countries added by the European Commission to blacklisted nations for posing threats because of lax controls on terrorism financing and money laundering.

The listing of the countries is part of a crackdown against money laundering after several scandals hit banks in European Union (EU) in recent months.

But the development has triggered criticism from several EU states. They are worried about their economic relations with the listed states, notably, Saudi Arabia.

READ ALSO :   Fears over Obasanjo’s link with foreign poll observers

The criteria used to blacklist countries include low sanctions against money laundering and terrorism financing, insufficient cooperation with the EU on the matter and lack of transparency over the beneficial owners of companies and trusts.

Five of the listed countries are already included on a separate EU blacklist of tax havens. They are: Samoa, Trinidad and Tobago and the three United States (U.S.) territories of American Samoa, Guam and U.S. Virgin Islands.

READ ALSO :   Prove your independence, Oba of Benin tasks INEC 

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to Ujuayalogusblog.com

Subscribe to Our Posts via Email


Share This

No comments:

Post a Comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "Midnight"


Post Bottom Ad

Pages