Big win in Nigeria: NPOs no longer 'obliged entities' under the law
In a big win for civil society in Nigeria, spearheaded by Spaces for Change, NPOs are no longer listed under the category of Designated Non-financial Institutions (DNFIs), and therefore no longer regarded as reporting or obliged entities.
The delisting of Nigerian NPOs from the DNFI category came into effect last week following the amendment of the Money Laundering (Prevention and Prohibition) Act 2022 and the Terrorism (Prevention and Prohibition) Act 2022. The President has assented to these amendments. This has come about after six long years of constructive dialogue and sustained engagement with national authorities responsible for implementing anti-money laundering and countering financing of terrorism (AML/CFT) regimes, as well as unrelenting advocacy demanding that NPOs be removed from the list of DFNIs - all capably led by our Coalition partner Spaces for Change (read their full statement here).