There is a major set-back to the current administration’s war against corruption and the Speaker of the House of Representatives, Mr Yakubu Dogara, says he is deeply concerned.

Nigeria has been suspended from the EGMONT group and Dogara believes this is not a good development.

Dogara made the observation on Monday in Abuja, at a meeting with Colonel Adama Coulibaly, the Director General of Inter Governmental Action Group Against Money Laundering (GIABA), in West Africa, a unit of the Economic Community of West African States (ECOWAS).

The Speaker described Nigeria’s suspension as a rude shock because the All Progressives Congress is committed to the fight against corruption.

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“The fight against corruption cannot be successful without support and cooperation from other countries because in most cases proceeds of corruption are taken out of the country and kept in other jurisdictions.

“No nation can survive as an island. It will take the collective cooperation by agencies different countries to combat both terrorism and corruption.

“Unfortunately, we are facing the two in Nigeria with the Boko Haram violence in the North East.

“It is impossible to fight terrorism and corruption without strong legal framework,” he said.

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There are two bills on anti-terrorism, anti-money laundering and mutual assistance on reparation of corruption proceeds that are pending before the House which will soon be passed into law.

The house has not passed the Bill seeking to grant total autonomy to the Nigerian Financial Intelligence Unit as forwarded from the Senate because there is the need to meet with key stakeholders and players to know their expectations so as to avoid expulsion of Nigeria from the group, Dogara further explained.

Coulibaly is in Nigeria on advocacy visit on the hosting of GIABA statutory meetings slated for November in Nigeria.

His visit will enable him assess Nigeria’s application to join the Financial Action Task Force (FATF).

Coulibaly urged Nigerian leaders to work to ensure that the country meets the minimum requirements and standards needed in order to be admitted into the FATF which will make it second African country to join the group after South Africa.