Nigeria Bounces Back: FATF Removes Country from Global Watchlist
Nigeria has regained international financial credibility as the Financial Action Task Force (FATF) officially removed the Country from its Global “grey list,” a move signaling renewed confidence in Nigeria’s anti-money-laundering and counter-terrorism financing systems.
The announcement came during the FATF October 2025 plenary in Paris, France, where South Africa, Mozambique, and Burkina Faso were also delisted.
Nigeria was placed on the grey list in February 2023 after FATF identified weaknesses in its financial oversight systems. Since then, the Government has rolled out far-reaching reforms to strengthen transparency and compliance.
Key measures included the enforcement of the Money Laundering (Prevention and Prohibition) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022, and the creation of a Beneficial Ownership Register to track and expose hidden company ownerships. Enhanced collaboration among regulatory Agencies also played a critical role in the delisting.
President Bola Ahmed Tinubu described the FATF decision as “a victory for Nigeria’s credibility and proof that reform and accountability yield results,” reaffirming his administration’s commitment to institutional integrity and financial reform.
Finance Minister Wale Edun emphasized that the Government’s goal “was never just to exit the list, but to build a sustainable framework for transparency and investor confidence.”
Experts predict that the delisting will enhance Nigeria’s reputation, ease cross-border transactions, attract more foreign investment, and boost remittances—currently valued at over $20 billion annually.
Director of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, praised the development as “the dawn of a stronger and more transparent financial ecosystem,” urging continuous vigilance to maintain the progress achieved.
Nigeria’s exit from the FATF watchlist represents not just a regulatory milestone but a fresh start for Africa’s largest economy to reclaim its global financial standing.
