Nigeria has officially been removed from the Financial Action Task Force (FATF) grey list of jurisdictions under increased monitoring, following a decision at the FATF October 2025 Plenary in Paris, France. The removal comes after the country successfully implemented a 19-point action plan to strengthen its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) systems.
Nigeria was placed on the grey list in February 2023 after FATF identified significant deficiencies in its AML/CFT framework. Over the past two years, the Federal Government worked closely with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa to address these gaps through legislative reforms, institutional capacity building, and improved coordination among agencies.
Key reforms recognized by FATF include 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 enhanced oversight of designated non-financial businesses and professions.
Hafsat Bakari, Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), announced the delisting, highlighting Nigeria’s strengthened ability to detect, investigate, and prosecute financial crimes, along with increased international cooperation and intelligence sharing.
“This milestone marks a historic moment in Nigeria’s fight against serious financial crimes and demonstrates the country’s commitment to global standards in combating money laundering, terrorist financing, and proliferation financing,” Bakari said.
She added that the government’s achievements include improved corporate transparency, stronger preventive measures across public and private sectors, and more effective supervision of high-risk businesses.
A high-level Nigerian delegation, including the Attorney-General of the Federation, the Ministers of Finance and Interior, and the Director of NFIU, attended the plenary. Bakari praised President Bola Tinubu, government institutions, the National Assembly, judiciary, and private sector partners for their contributions, calling the delisting “a true test of Nigeria’s resilience, coordination, and commitment to reform.”
She urged all stakeholders to sustain the momentum to ensure Nigeria continues to meet global financial integrity standards. Burkina Faso, Mozambique, and South Africa were also removed from the grey list at the same meeting.
