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From Juliana Taiwo-Obalonye, Abuja
In a landmark decision at the FATF October 2025 Plenary in Paris, Nigeria has been officially removed from the FATF grey list, marking a new chapter in the country’s fight against money laundering, terrorist financing, and proliferation financing.
The Nigerian Financial Intelligence Unit (NFIU) announced the delisting, underscoring Nigeria’s unwavering commitment to global AML/CFT standards.
According to the statement, the FATF’s action comes after Nigeria’s 19-point reform programme, implemented in collaboration with FATF and GIABA, including legislative upgrades, institutional strengthening, and enhanced inter-agency coordination.
Key reforms cited by the NFIU and Nigerian government include the enactment of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022; the operationalisation of the Beneficial Ownership Register; stronger supervisory measures for DNFBPs; and intensified international cooperation on cross-border financial intelligence.
Speaking for Nigeria, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, asserted that the action is more than compliance. “Nigeria’s ambition was never limited to simply completing the Action Plan and exiting the grey list. Our focus has been on driving reforms, enacting legislative enhancements and strengthening institutions to ensure Nigeria effectively counters money laundering and terrorist financing. For us, the Action Plan was not the ceiling, but the floor of our aspirations,” he said.
Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, welcomed the invitation to join the FATF Guest Jurisdictions Initiative, enabling Nigeria to participate in FATF meetings under its own flag for the next year and contribute to global AML/CFT discussions.
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NFIU Director/CEO Hafsat Bakari paid tribute to the collective effort behind the delisting. “Nigeria’s removal from the FATF grey list is a true test of our resilience, coordination and unwavering commitment to reform. It is a clear signal to the world that Nigeria can meet and exceed global standards in financial integrity,” she stated.
Bakari added: “This is not the end of our journey, but the beginning of a stronger, more transparent financial ecosystem.”
She credited the leadership of President Bola Tinubu and the guidance of senior officials for keeping reform on track, while thanking the private sector and civil society for their partnership.
The statement also noted Nigeria’s progress has been mirrored by the removal of Burkina Faso, Mozambique, and South Africa from the grey list, signaling broader regional improvements in financial sector integrity.
The NFIU emphasised that sustaining this momentum requires ongoing collaboration among government agencies, the private sector, and international partners to protect Nigeria’s financial system and contribute to global stability.
