Nigeria has been officially removed from the Financial Action Task Force (FATF) grey list, marking a significant milestone in the nation’s ongoing efforts to combat money laundering, terrorism financing, and other financial crimes.
Alongside Nigeria, Burkina Faso, South Africa, and Mozambique were also delisted, following the implementation of significant reforms and compliance measures designed to strengthen their financial systems and bolster their ability to combat illicit financial activities.
With the delisting, Nigeria is no longer under increased international monitoring, having demonstrated firm compliance with global standards of financial transparency and integrity.
The Nigerian Financial Intelligence Unit (NFIU) announced the development following the FATF’s October 2025 Plenary held in Paris, France on Friday.
Nigeria was first placed on the FATF grey list in February 2023 after strategic deficiencies were identified in its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
However, the country successfully implemented a 19-point Action Plan in collaboration with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), effectively addressing all identified gaps within two years.
Among the key reforms that paved the way for the delisting were the enactment of the Money Laundering (Prevention and Prohibition) Act 2022, the operationalisation of the Beneficial Ownership Register, enhanced capacity of law enforcement and security agencies, stricter supervision of designated non-financial businesses, and improved cross-border intelligence sharing.
The Attorney-General of the Federation, Lateef Fagbemi, described the development as a testament to Nigeria’s growing commitment to transparency and accountability, adding that it aligns with the government’s broader economic and institutional reforms.
Similarly, NFIU Director and Chief Executive Officer, Hafsat Abubakar Bakari, commended President Bola Ahmed Tinubu and Vice President Kashim Shettima for their leadership and strategic guidance.
She also praised the National Assembly, the judiciary, and key government agencies for their roles in implementing the far-reaching reforms.
Bakari described Nigeria’s removal from the FATF grey list as “a new chapter for financial integrity and global confidence,” emphasizing that it positions the country to play a more active role in international discussions on combating financial crimes.
