Nigeria has officially exited the Financial Action Task Force (FATF) grey list following the successful implementation of key reforms to strengthen its anti-money laundering and counter-terrorism financing (AML/CFT) framework.
The Nigerian Financial Intelligence Unit (NFIU) confirmed the development, describing it as a major milestone for the nation’s financial system and global credibility.
The decision was announced at the FATF plenary in Paris, France.
According to the NFIU, the delisting followed a rigorous mutual evaluation process that assessed Nigeria’s compliance with international standards on combating illicit financial flows, terrorism financing, and proliferation financing.
The agency said the exit was achieved through sustained inter-agency collaboration, strong political leadership, and the deployment of modern financial intelligence tools.
The Director and Chief Executive Officer of the NFIU, Hafsat Bakari, hailed the development as a collective victory for Nigeria’s financial system, noting that it reflects the country’s renewed commitment to transparency, accountability, and the rule of law.
She commended President Bola Tinubu for his leadership, saying his administration’s support accelerated the completion of the FATF Action Plan and restored confidence among international partners and investors.
Bakari also lauded the efforts of key institutions, including the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Corporate Affairs Commission (CAC), Economic and Financial Crimes Commission (EFCC), and the Office of the National Security Adviser (ONSA), among others.
These institutions, she said, worked tirelessly to address FATF’s 30-item action plan, which covered risk-based supervision, improved information sharing, and effective prosecution of financial crimes.
The agency noted that Nigeria’s exit from the grey list will boost investor confidence, reduce transaction costs for businesses, and enhance access to global financial markets.
It added that Nigeria would continue to work with the FATF and its regional body, GIABA, to sustain the progress made and prevent future relapse.FATF, established in 1989, sets international standards to combat money laundering, terrorism financing, and related financial crimes.
