The Nigerian Financial Intelligence Unit (NFIU) has said Nigeria’s exit from the Financial Action Task Force Grey List and the European Union’s removal of the country from its list of high-risk third countries have validated the financial integrity reforms implemented since 2023.

In a statement in Abuja on Sunday, the NFIU said the developments followed a series of decisions by global anti-money laundering and counter-terrorism financing bodies over recent months.

Nigeria exited the FATF Grey List in October 2025, while the European Union removed the country from its high-risk list in January 2026.

The NFIU said the outcomes reflected a whole-of-government and whole-of-society approach to strengthening Nigeria’s framework on anti-money laundering, counter-terrorism financing and counter-proliferation financing, noting that the reforms were not limited to the agency alone.

Commenting on the development, the Chief Executive Officer of the NFIU, Hafsat Bakari, in a statement on Sunday, said the decisions of the FATF and the EU demonstrated the credibility of Nigeria’s reforms and the effectiveness of sustained, coordinated implementation across government institutions.

“Nigeria’s exit from the FATF Grey List and the European Union’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms.

“This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system.

“The successful delisting of Nigeria from the FATF Grey List and the EU AML/CFT list is a clear signal that our reforms are deep, credible and sustainable. It reflects years of disciplined implementation across government, law enforcement, the judiciary and the private sector”, she said.

Bakari said the reforms were carried out under the guidance of President Bola Tinubu and supported by strategic leadership from the Attorney-General of the Federation and Minister of Justice, the Minister of Finance and Coordinating Minister for the Economy, the Minister of Interior and the Minister of State for Finance through the Inter-Ministerial Committee on AML/CFT/CPF.

She added that contributions from other ministries, security agencies, regulators and law enforcement bodies helped to strengthen supervision of the financial and non-financial sectors, improve corporate transparency, and enhance investigations and prosecutions related to illicit finance.

“Strong prosecutorial outcomes and international cooperation were achieved through the leadership of the Federal Ministry of Justice, particularly in securing convictions, facilitating mutual legal assistance and enabling the recovery and repatriation of illicit assets.

“The Judiciary, especially the Chief Judge and Justices of the Federal High Court, is commended for timely adjudication and the imposition of proportionate and dissuasive sanctions which serve as an effective deterrent,” She added.

According to her, Nigeria is now consolidating the gains recorded and has begun preparations for its next AML/CFT/CPF Mutual Evaluation, while reaffirming its commitment to continued collaboration and the protection of the country’s financial system. (The PUNCH)

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