The Nigerian Financial Intelligence Unit (NFIU) has attributed the country’s successful removal from the Financial Action Task Force grey list and the European Union’s list of high-risk countries on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) to coordinated inter-agency collaboration and sustained reforms.
Nigeria exited the FATF grey list in October 2025 and is set to be removed from the EU’s list of high-risk third countries at the end of January, following decisions taken at FATF Plenaries in June and October 2025.
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The Chief Executive Officer of the NFIU, Hafsat Bakari, described the developments as proof of the credibility of Nigeria’s reforms.
“Nigeria’s exit from the FATF grey list and the European Union’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms.
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“This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system,” Ms Bakari said in a statement on Saturday.
She noted that the success would not have been possible without the “guidance of President Bola Tinubu and his commitment to building a safe and prosperous Nigeria.”
The NFIU CEO acknowledged strategic leadership provided by the Attorney-General of the Federation and Minister of Justice, the Minister of Finance and Coordinating Minister for the Economy, the Minister of Interior, and the Minister of State for Finance, through the Inter-Ministerial Committee on AML/CFT/CPF.
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She also commended the Ministers of Aviation, Budget and Economic Planning, Defence, Industry, Trade and Investment, and Solid Minerals Development for their interventions in creating a secure regulatory environment across priority sectors.
The National Security Adviser was recognised for strengthening national coordination on security-related risks, particularly in addressing terrorism and terrorism financing through enhanced inter-agency collaboration.
Regulatory bodies, including the Central Bank of Nigeria, the Securities and Exchange Commission, the National Insurance Commission, and the Special Control Unit Against Money Laundering of the Economic and Financial Crimes Commission were acknowledged for improved risk-based supervision and enhanced market entry controls.
The Corporate Affairs Commission, Nigeria Export Processing Zones Authority and the Oil and Gas Free Zones Authority were credited with driving progress on corporate transparency through systems aligned with international best practice.
“Law enforcement agencies, including the Nigeria Police Force, EFCC, Independent Corrupt Practices and Other Related Offences Commission, Department of State Services, Defence Intelligence Agency, National Drug Law Enforcement Agency and the Code of Conduct Bureau, contributed to strengthened outcomes through investigation and prosecution of high-risk predicate offences,” the NFIU said.
It added that the Nigeria Customs Service, the Nigeria Immigration Service, Federal Airports Authority of Nigeria and the Nigeria Civil Aviation Authority played vital roles in detecting and prosecuting cross-border cash smuggling and illicit movement of high-value goods.
“The Federal Ministry of Justice achieved strong prosecutorial outcomes and international cooperation, securing convictions, facilitating mutual legal assistance and enabling recovery and repatriation of illicit assets. The Chief Judge and Justices of the Federal High Court were commended for timely adjudication and imposition of proportionate sanctions.”
The agency also commended legislative support from the President of the Senate, Speaker of the House of Representatives, and relevant committee chairpersons, who provided the legal foundation required to sustain reforms.
Ms Bakari said the achievement belonged to Nigeria and its partners, adding that the agency remained committed to deepening cooperation and enhancing intelligence-led supervision to ensure the country continues to meet global anti-money laundering standards.
The EU regulation removing Nigeria from the high-risk list takes effect from January 29, 2026.
The European Commission confirmed that Nigeria and other delisted countries —Burkina Faso, Mali, Mozambique, South Africa and Tanzania have strengthened the effectiveness of their AML/CFT regimes and fulfilled commitments in their FATF Action Plans.
The delisting means that automatic country-based enhanced due diligence under Article 9 AMLD IV no longer applies to Nigeria.
FATF, an intergovernmental organisation that sets global standards to protect the financial system, had placed Nigeria on the grey list in February 2023.
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Grey-listing discourages foreign investment, damages reputation and increases borrowing costs.
A 2021 International Monetary Fund report found that grey-listed countries experienced a large and statistically significant reduction in capital inflows.
Nigeria is now scheduled for its third mutual evaluation exercise in 2027.
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