Terrorism Financing: EU Blacklists Nigeria, Saudi Arabia

The European Commission has added Nigeria, Saudi Arabia, Panama and other jurisdictions to a blacklist of nations that pose a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. - The move is part of a crackdown against money laundering after several scandals hit EU banks in recent months. But it has triggered criticism from several EU states worried about their economic relations with the listed states, notably Saudi Arabia.

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 US territories of American Samoa, Guam and US Virgin Islands.  -  The Saudi government media office did not immediately respond to a request for comment. Panama said it should be removed from the list because it recently adopted stronger rules against money laundering.- Despite pressure to exclude Riyadh from the list, the commission decided to list the kingdom, confirming a Reuters report in January.. -  Apart from reputational damage, inclusion on the list complicates financial relations with the EU. The bloc’s banks will have to carry out additional checks on payments involving entities from listed jurisdictions.

The list now includes 23 jurisdictions, up from 16. The commission said it added jurisdictions with “strategic deficiencies in their anti-money laundering and countering terrorist financing regimes. -  Brussels also added to its list Libya, Botswana, Ghana, Samoa, the Bahamas and the four United States territories of American Samoa, U.S. Virgin Islands, Puerto Rico and Guam. - The other listed states are Afghanistan, North Korea, Ethiopia, Iran, Iraq, Pakistan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen.  -  Bosnia Herzegovina, Guyana, Laos, Uganda and Vanuatu were removed.  -  The 28 EU states now have one month, which can be extended to two, to endorse the list. They could reject it by qualified majority. EU justice commissioner Vera Jourova, who proposed the list, told a news conference she was confident states would not block it.  -  She said it was urgent to act because “risks spread like wildfire in the banking sector.”

You can subscribe to OE,NewsPoint: Advertise with us. Send us enquiries, press releases.

Follow us on twitter ( @_ezemba )

 

 

Terrorism Financing: EU Blacklists Nigeria, Saudi Arabia

Bombing
European Parliament 3
How President Buhari paid $3m for ‘fake’ Martin Luther King Jr’s leadership award
Buhari Receiving fake Martin Luther King Jrs leadership award
In what many Nigerians have critized as an undeserving First Black History Month National Black Excellence and Exceptional African Leadership award conferred on Nigerian president Muhammadu Buhari by Martin Luther King Jr’s family
More>>>>
 
 
Exposed: Sergeant David Bako Deserts Nigerian Army, Leaks How Dapchi Girls' Abduction Was Planned In The Villa With N80 million
Dapchi Girls
As many Nigerians continue to react to the Dapchi girls' kidnap drama, a certain Nigerian Christian soldier, Sergeant David Bako from the Middle Belt, Plateau State to be precise has revealed how the Dapchi girls kidnap drama was plotted and executed.
More>>>>
 
 
 
Which of the President Muhammadu Buhari are you referring to? The dead one or the imposter?
Buhari Double

President Muhammadu Buhari died a long time ago, the current one parading as a president is a “product of plastic surgery or mask-over.”
More>>>>
 
 
Buhari’s Hidden Agenda for non-Muslims – A Man Who Converted to Christianity Reveals
Buhari’s hidden agenda for non-Muslims
Ishaku Abdul’rahman Mohammed is a man who converted to Christianity, writes open letter to Christians. The author calls them “senseless” and advises not to be lured with to change their religion.
 
 
 
President Muhammadu Buhari’s Physical Transformation
Buhari’s Body Transformation

It is unbelievable that President Muhammadu Buhari made a huge recovery. It is amazing how Muhammadu Buhari’s body can transformed from this to that in under one year.
 
 
 
President Buhari is appointing Islamist Jihadists into key position – Group
Northern Leaders 2
Solomon Asemota, Senior Advocate of Nigeria (SAN), on behalf of some Christian groups in the country has accused President Muhammadu Buhari of discriminatory appointments against non-Muslims in Nigeria.
 
 
 
One Nigeria, One Big Corruption: The British Made "Nigeria" that is Riddled with Corruption Has Expired and Ripe for Break-up
Nigeria Logo vs Biafra Logo

What are we waiting for? Isn’t it very obvious even to the daftest that the contraption called Nigeria is a failed state by every definition and every parameter? Is this what a country of 186 million people supposed to be? Should we continue to sustain a country that is unsustainable?