Abstract
The Thesis conducts an enquiry on the impact that the Financial Action Taskforce (FATF)accountability mechanisms have had on the anti-illicit financial flows (IFF) and anticorruption mechanisms in Nigeria. The goal is to conclude on whether the FATF and its
accountability framework should be promoted as an international mechanism that has
enhanced the goal of actualizing the right to development (RTD) in Nigeria by effectively
assisting the country to combat grand corruption related IFFs.
This research applied mixed methods to evaluate the FATF’s contribution to anti-IFF in
Nigeria. Secondary data on FATF’s evaluation of countries in the global network of FSRBs
and FATF memberships, qualitative data from interviews and quantitative data from surveys
were used as data for this Thesis. For this study, data from 20 interviews and 16 completed
surveys by anti-money laundering (AML) experts in Nigeria were used.
The findings in the study explain the value of the FATF as a mechanism that has sought to
influence compliance in Nigeria. It shows that the impact of the FATF on compliance must
be assessed from the perspective of its ability to get inputs from domestic actors. The study
reveals that the weaknesses of the FATF have not impeded on its value because it gives
adequate clarity about its accountability process and objective to domestic actors, who are
themselves afforded the opportunity to be a part of the various stages of FATF’s activities.
The findings indicate that the effectiveness of the FATF is associated with its ability to
impact compliance without exacerbating any concerns about international influence. The
study also illustrates the value in the FATF’s ability to achieve and support various forms of
accountability.
The study builds on development theories and the accountability concept and Guzman’s
theory of compliance literature by identifying some factors that amplify the effectiveness of
mechanisms which may cause reputational damage for non-compliance with international
law
| Date of Award | 2023 |
|---|---|
| Original language | English |
| Awarding Institution |
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