Nigeria has been removed from the Financial Action Task Force (FATF) grey list, marking a major achievement in the nation’s ongoing fight against money laundering and terrorism financing.
The development came up at the FATF October 2025 Plenary in Paris, France, after Nigeria successfully implemented a 19-point action plan designed to strengthen its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
The task force also announced the exclusion of Mozambique, Burkina Faso and South Africa from the grey list during the plenary.
Recall that Nigeria had been placed on the grey list in February 2023 following FATF’s identification of weaknesses in its financial oversight systems. In response, the Federal Government worked closely with the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) to close the gaps through legal reforms, improved institutional coordination, and stricter financial supervision.
FATF credited Nigeria’s delisting to major reforms such as the enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022. Other notable achievements include the establishment of the Beneficial Ownership Register, which enhances corporate transparency, and the improved monitoring of designated non-financial businesses and professions.
In a statement released on Friday, the Director and Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, described the FATF decision as a “historic milestone” that reflects Nigeria’s commitment to global financial integrity.
According to Bakari, Nigeria has significantly enhanced the capacity of its intelligence and law enforcement agencies to detect, investigate, and prosecute financial crimes, while also deepening cross-border intelligence sharing with international partners.
“The delisting of Nigeria underscores our country’s unwavering dedication to transparency, accountability, and compliance with global standards in combating money laundering, terrorist financing, and proliferation financing,” she said.
A high-level Nigerian delegation, including the Attorney-General of the Federation, the Ministers of Finance and Interior, and the Director of the NFIU, represented the country at the FATF plenary in Paris.
Bakari commended President Bola Tinubu for his leadership and acknowledged the contributions of the National Assembly, the judiciary, and the private sector in achieving this milestone. She urged all stakeholders to sustain the reform drive to ensure Nigeria remains compliant with international financial standards.
Credit: The Punch
