Naira Rebounds as Nigeria Exits Financial Crime Watchlist

Nigeria’s Economy received a major confidence boost this week as the Nation’s currency, the Naira, strengthened sharply following its removal from the Financial Action Task Force (FATF) grey list, a Global watchlist for Countries with strategic deficiencies in combating money laundering and terrorism financing.

The development marks a significant milestone for Africa’s largest economy, which had been under FATF’s increased monitoring since 2021.

According to financial analysts, Nigeria’s delisting reflects progress in implementing reforms that align with International anti-financial crime standards, including stronger regulatory oversight and improved inter-agency collaboration.

Following the announcement, the Naira appreciated against major glyobal currencies, with traders reporting increased foreign investor confidence and a surge in dollar inflows into the local market.

The Central Bank of Nigeria (CBN) also welcomed the move, saying it would “enhance Nigeria’s standing in the Global financial system and attract more foreign direct investment.”

Economic experts described the development as a validation of the federal Government’s economic reforms and renewed commitment to transparency under President Bola Ahmed Tinubu’s administration.

“This is not just about the Naira gaining value,” said financial analyst Tunde Ajayi. “It’s about Nigeria regaining trust in the Global financial ecosystem.”

The Financial Action Task Force, based in Paris, announced Nigeria’s removal from the list after a plenary review confirmed that the Country had addressed the deficiencies identified during earlier assessments.

Observers say the delisting could lead to a wave of positive economic outcomes — from improved credit ratings to easier access to International financing.

With the Naira showing signs of renewed strength, many Nigerians are optimistic that this marks a turning point for the Country’s financial stability and credibility.