South Africa, Nigeria Exit Watchdog’s Dirty Money List (2)

South Africa and Nigeria were taken off a global watchdog’s dirty-money list, providing a fillip for increased remittances and foreign investment in two of Africa’s largest economies.

The Paris-based Financial Action Task Force on Friday said the countries — along with Mozambique and Burkina Faso — are no longer on the list of jurisdictions subject to increased monitoring, after their governments stepped up efforts to combat money laundering and terrorist financing.

“This plenary has been a positive story for the continent of Africa,” FATF President Elisa de Anda Madrazo told reporters in Paris at the conclusion of the session. ...