In October 2025, Nigeria was officially removed from the Financial Action Task Force (FATF) grey list after nearly two years of increased monitoring for weaknesses in its anti-money laundering and counter-terrorism financing framework. This announcement was made at the FATF Plenary in Paris, following Nigeria’s successful implementation of a comprehensive 19-point Action Plan. The plan, in collaboration with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), involved legislative reforms, institutional strengthening, and enhanced inter-agency coordination.
Therefore, the Minister of Finance, Wale Edun emphasized that Nigeria’s reforms go beyond mere compliance, aiming to overhaul financial crime controls with a focus on transparency, integrity, and accountability.
Similarly, Attorney-General, Lateef Fagbemi highlighted Nigeria’s entry into the FATF Guest Jurisdictions Initiative, which allows the country to participate in FATF meetings and contribute to global AML/CFT discussions.
Nigerian Financial Intelligence Unit CEO, Hafsat Abubakar Bakari credited the delisting to coordinated national efforts and expressed that the achievement marks the start of a stronger, more transparent financial system. Leadership from President Bola Tinubu and other branches of government, along with private and non-profit sectors, were pivotal in Nigeria’s financial integrity reforms.
The delisting also reflects progress across Africa, with Burkina Faso, Mozambique, and South Africa similarly removed from the grey list during the FATF plenary.
