The Federal Government has welcomed the European Commission’s decision to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
Okay News reports that the removal was contained in a Delegated Regulation amending (EU) 2016/1675, released this week.
The decision follows Nigeria’s exit from the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring in October 2025, after completing its FATF Action Plan.
Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun described the development as a major milestone, crediting President Bola Ahmed Tinubu’s leadership and reform drive.
Edun said the administration prioritised AML/CFT reforms as a core element of economic governance and financial system stability, with strong inter-agency coordination, sustained international engagement, and critical legal, regulatory, and institutional changes.
According to the European Commission, Nigeria has significantly strengthened its AML/CFT framework and addressed technical and strategic deficiencies identified by the FATF, leading to its removal from the EU high-risk list alongside other jurisdictions showing similar progress.
The government noted that the removal will boost Nigeria’s global financial standing, ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions dealing with European counterparts, improve correspondent banking relationships, and strengthen investor confidence.
Edun commended financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators for their contributions to the reforms.
He reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT measures, continuing close collaboration with the FATF, the European Union, and other international partners to maintain a resilient, transparent, and globally aligned financial system.
“The removal of Nigeria from both the FATF grey list and the European Union’s high-risk list sends a clear and positive signal to the global community that Nigeria is firmly on the path of reform, transparency, and economic renewal under the leadership of President Bola Ahmed Tinubu,” Edun said.
