The Financial Action Task Force (FATF) has officially removed Nigeria from its grey list following the country’s successful completion of a 19-point action plan to strengthen its anti-money laundering and counter-terrorism financing framework.
The decision was announced at the FATF October 2025 Plenary in Paris, marking a significant milestone in Nigeria’s efforts to enhance financial transparency and global compliance.
Nigeria was placed on the grey list in February 2023 due to strategic deficiencies in its AML/CFT systems. Since then, the Federal Government has worked closely with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa to address the gaps.
Key reforms 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 also improved corporate transparency.
The Nigerian Financial Intelligence Unit (NFIU) confirmed the delisting in a statement issued Friday. Director/CEO Hafsat Bakari said Nigeria had enhanced its law enforcement and intelligence capabilities to detect and prosecute financial crimes.
Bakari stated, “This milestone marks a historic moment in Nigeria’s fight against serious financial crimes. The delisting underscores our commitment to global standards in combating money laundering and terrorist financing.”
She highlighted increased international cooperation, stronger supervision of non-financial businesses, and preventive measures as key achievements. A high-level delegation represented Nigeria at the plenary, including ministers and the NFIU leadership.
Bakari credited President Bola Tinubu’s leadership and acknowledged the contributions of the National Assembly, judiciary, and private sector in achieving the reforms.
She urged stakeholders to maintain momentum and ensure continued compliance with global financial integrity standards.
Burkina Faso, Mozambique, and South Africa were also removed from the grey list during the same plenary session.
