Nigeria exits FATF grey list after 32 months

Nigeria has officially been removed from the Financial Action Task Force (FATF) grey list — a major milestone that highlights the country’s improved systems for preventing money laundering, terrorist financing, and other financial crimes. This means Nigeria is no longer classified as a jurisdiction under increased monitoring by the Financial Action Task Force (FATF). South Africa, Burkina Faso, and Mozambique have also been removed from the grey list. #FATF #grey #list #financial #crime

Summary of the NFIU Press Release (24 October 2025): The Nigerian Financial Intelligence Unit (NFIU) announced that Nigeria has officially exited the FATF Grey List, marking a major achievement in its fight against money laundering, terrorist financing, and proliferation financing. This follows the October 2025 FATF Plenary in Paris, where Nigeria was recognized for fulfilling the required reforms since being grey-listed in February 2023. Key highlights include: Legal and Institutional Reforms: Enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022 and the Terrorism (Prevention and Prohibition) Act, 2022. Transparency Measures: Launch of the Beneficial Ownership Register to improve corporate transparency. Enhanced Enforcement: Strengthened intelligence, law enforcement, and prosecutorial capabilities. Preventive Supervision: Stronger oversight of financial systems to prevent abuse. International Collaboration: Increased cooperation with regional and global partners, particularly GIABA. Non-Financial Regulation: Improved supervision of Designated Non-Financial Businesses and Professions (DNFBPs). Statements from key officials: Minister of Finance, Mr. Wale Edun, emphasized Nigeria’s commitment to global anti-financial crime standards. Attorney-General, Prince Lateef Fagbemi, expressed gratitude to FATF for its support and reaffirmed Nigeria’s ongoing commitment. NFIU CEO, Mr. Hafsat Abubakar Bakari, described the delisting as “the beginning of a stronger, more transparent financial ecosystem.” President Bola Ahmed Tinubu was commended for his leadership in ensuring Nigeria stayed on track. The release concludes by urging continued vigilance, cooperation, and leadership within the African region to sustain these gains. Assessment: This press release is a strategically positive communication that underscores Nigeria’s progress in aligning with global financial integrity standards. The tone balances celebration with responsibility, acknowledging the need to maintain reforms. It effectively credits collaboration across multiple levels of government and institutions, strengthening Nigeria’s international credibility. However, while the release is strong on achievements and political acknowledgment, it could be strengthened by: Providing specific data or examples of enforcement outcomes (e.g., prosecutions, asset recoveries). Detailing how long-term monitoring mechanisms will prevent backsliding. Outlining next steps or measurable goals to sustain compliance. Overall, this is a clear, well-structured, and credible communication that marks a milestone in Nigeria’s financial governance and international reputation. #Nigeria #FATF #FinancialIntegrity #NFIU #Compliance #AML #CFT #Transparency #Governance

Some may be wondering what this means for the industry and Nigeria at large. What does Nigeria exiting the FATF Grey List really mean? For context, being on the FATF grey list is like being placed under extra supervision by the global financial community. It doesn’t mean a country is guilty of wrongdoing, but it signals that there are gaps in how we detect and prevent money laundering, terrorism financing, and related financial crimes. You can also think of it like a match of football. When a player gets a yellow card, the referee is saying, “We’re watching you, any more mistakes and you could be sent off.” That’s what being on the FATF grey list felt like for Nigeria. We weren’t banned from the game, but the world was watching our every move. While on the grey list, our financial institutions faced tough times: • Cross-border transactions took longer and required more scrutiny. • Foreign banks and investors were more cautious in dealing with Nigerian entities. • Compliance costs increased as institutions tried to prove they were trustworthy. However, just like in football, getting the yellow card withdrawn doesn’t mean we stop playing carefully. We must keep our discipline, follow the rules, and maintain fair play because the referee’s eyes are still on the field. Nigeria has earned a chance to play freely again. Now it’s on us to keep the game clean. ⚽🇳🇬 The message to the world is clear that Nigeria has strengthened its systems to fight financial crime. • Greater confidence from international partners and investors. • Easier and faster foreign transactions for Nigerian banks and businesses. . Improved reputation for our financial system globally. However, this is not the time to relax. Staying off the list requires continuous effort like strong compliance culture, effective reporting, and ethical conduct across the industry. Kudos to all the reporting entities, Nigerian Financial Intelligence Unit (NFIU) Central Bank of Nigeria for the good work. #Compliance #FATF #Greylist

Today marks a significant milestone for Nigeria’s financial system! The Financial Action Task Force (FATF) has officially removed Nigeria from its Grey List, signaling global recognition of the country’s sustained reforms in combating money laundering, terrorist financing, and proliferation financing. This development underscores the progress made through stronger risk based supervision, interagency coordination, and adherence to international AML and CFT standards. As someone deeply engaged in the field of anti money laundering and financial integrity, this achievement particularly resonates with me. It reflects years of collaboration, policy reform, and the collective effort of institutions committed to building a more transparent and resilient financial system. The focus should now shift from compliance to consolidation, ensuring that regulatory institutions, reporting entities, and gatekeepers sustain the momentum through technology enabled enforcement, data driven monitoring, and cross border cooperation. A commendable milestone for everyone who has worked to strengthen Nigeria’s financial integrity framework. #FATF #AML #CFT #Nigeria #FinancialIntegrity #Compliance #Regulation #RiskBasedSupervision

Nigeria has officially been removed from the Financial Action Task Force (FATF) grey list and no longer considered a high risk jurisdiction. This is a great milestone, reinforcing confidence in Nigeria’s economy and enabling improved access to global financial markets👏

📢 Nigeria’s Financial Reputation Just Got Stronger! 🇳🇬 Nigeria Exits the FATF Grey List — A Step Forward for Our Financial System As a compliance professional, I’m proud to see Nigeria officially removed from the FATF grey list. This milestone reflects our nation’s unwavering commitment to building robust anti–money laundering (AML) and counter–terrorist financing (CTF) frameworks — strengthening transparency, accountability, and trust in our financial system. Beyond the recognition, this achievement boosts investor confidence, facilitates cross-border business, and reinforces Nigeria’s standing within the global financial community. Still, remaining off the grey list requires constant vigilance; a culture of compliance that is active, ethical, and sustainable across all institutions. It starts with each of us. Every transparent transaction and responsible decision helps protect the integrity of our financial ecosystem and the credibility of our nation. Let’s keep compliance active, not reactive, and continue to raise the bar for a stronger, safer financial future. #Nigeria #FATF #Compliance #Finance #Banking #Investment #Governance #Transparency #Accountability #Ethics #FinancialIntegrity #NFIU

Great news for Nigeria. Sustaining this progress will depend on strengthening UBO transparency and leveraging technology-driven compliance solutions. Tools like Probe Compliance are already bridging those gaps and helping institutions stay ahead of FATF standards.

Yesterday, October 28, 2025, the Chief of Staff to the CEO, Mr. Mohammed Shahid Ahmed, represented the Nigerian Financial Intelligence Unit (NFIU) on the NTA Good Morning Nigeria programme, where he joined other discussants to shed light on Nigeria’s journey on and off the Financial Action Task Force (FATF) Grey List. He highlighted the collective efforts of all stakeholders, from the Presidency and National Assembly to law enforcement and regulatory bodies, whose commitment and reforms led to Nigeria’s official removal from the FATF Grey List on Friday, October 24, 2025. Nigeria’s exit from the grey list underscores the country’s renewed dedication to transparency, financial integrity and global cooperation in combating money laundering and terrorist financing.

Nigeria’s removal from the Financial Action Task Force (FATF) “grey list” marks a major milestone for the nation’s financial system. This delisting is more than a technical win, it’s a testament to Nigeria’s strengthened Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) frameworks, reaffirming Nigeria's commitment to global financial integrity. Read the full article to learn what this means for Nigeria’s financial future. #DOANews #FATF #Nigeria #AML #CFT #Compliance

Fantastic news! Nigeria has officially been removed from the FATF grey list, a milestone that recognizes the country’s strengthened frameworks against money laundering, terrorist financing and other financial crimes. This means it is no longer on the list of jurisdictions subject to increased monitoring. South Africa, Burkina Faso, and Mozambique also exited the grey list. https://lnkd.in/euu7dcxn