On October 4, 2024, coalition member Spaces for Change hosted a multistakeholder meeting in Lagos convening 41 representatives representing non-profit organizations, financial institutions, regulators and law enforcement agencies. The aim was to address financial exclusion and de-risking resulting from the implementation of countering the financing of terrorism (CFT) measures and regulations.
 
Building on discussions from the February 2024 conference, participants explored solutions to issues like bureaucratic bank onboarding processes, high bank charges, and the blanket application of CFT measures. Experts from Human Security Collective and the Charity and Security Network shared international best practice, focusing on the latest changes to the FATF Standards, methodology and guidance, and the ongoing tri-sector dialogues between banks, regulators, and non-profit organizations in other countries.
 
The meeting concluded with financial institutions committing to reassessing their current practices, also in line with the latest FATF guidance, to ensure smoother access to financial services.

For more details on the meeting, click here.