The Financial Action Task Force (FATF), the global watchdog on money laundering and terrorist financing, on Friday at its October 2025 Plenary in Paris, France delisted Nigeria from the Global Money-Laundering grey list in recognition of the Nigerian government’s financial and fiscal reforms.
Specifically, the delisting of the country followed the government’s full implementation of a 19-point action plan aimed at strengthening its Anti-Money Laundering and Countering the Financing of Terrorism framework.
Nigeria was placed on the grey list in February 2023 over weak enforcement, poor inter-agency coordination, and opaque financial practices.
Reacting to the FATF’s recognition of his administration’s to frontally tackle money laundering and terrorism financing in the country, President Bola Tinubu has described Nigeria’s removal from the Financial Action Task Force “grey list” as a strategic victory for the nation’s economy and financial governance.
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A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, quoted Tinubu as saying that the development is “not just a technical accomplishment but a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.”
According to the spokesman, the President maintained that his administration treated the designation as a call to action rather than a setback and thereby directed key agencies to implement holistic reforms in the financial system.
Based on the presidential directive, the Nigerian Financial Intelligence Unit (NFIU), in collaboration with the Offices of the Attorney-General, and the Ministers of Finance, Justice, and Interior, worked together on comprehensive legal, institutional, and operational reforms to meet FATF standards.
Tinubu commended the Director and Chief Executive Officer of the NFIU, Mrs. Hafsat Bakari, and her team for their diligent and timely implementation of Nigeria’s commitments to sanitizing the nation’s financial system, resulting in the international recognition of Nigeria for tackling serious financial crimes.
In a statement announcing the delisting of Nigeria from the FATF’s grey list, Bakari, who led the reform process, described the decision of the Fund as a true test of the country’s resilience, coordination, and unwavering commitment to reform.”
She enthused: “The FATF has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list. This milestone marks a historic moment in Nigeria’s fight against serious financial crimes and underscores our commitment to global standards in combating money laundering, terrorist financing, and proliferation financing.”
She listed some of the key reforms that led to the delisting of the country from the money-laundering list as including the enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022; the operationalisation of the Beneficial Ownership Register; and stronger supervision of designated non-financial businesses and professions.
This is even as the CEO of the NFIU disclosed that Nigeria had also enhanced the capacity of its intelligence and law enforcement agencies to detect, investigate, and prosecute financial crimes while also strengthening its international cooperation and cross-border intelligence sharing.
During the same plenary on Friday, the FATF also announced the removal of South Africa, Burkina Faso, and Mozambique from its grey list after recognizing the improvements in their financial integrity systems.
