iDeemlawfulThe Financial Action Task Force (FATF) has officially removed Nigeria from its list of jurisdictions under increased monitoring, commonly known as the grey list.
The decision was made during the FATF October 2025 Plenary in Paris, France, following Nigeria’s successful completion of a 19-point action plan aimed at strengthening 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 strategic weaknesses in its AML/CFT framework.
Over the past two years, the Federal Government collaborated with the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa to address the identified gaps through legislative updates, institutional improvements, and stronger inter-agency coordination.
Key reforms highlighted by the FATF include the enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022; the activation of the Beneficial Ownership Register; and better supervision of designated non-financial businesses and professions.
Announcing Nigeria’s removal from the grey list on Friday, the Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, said the country had strengthened its intelligence and law enforcement capacities to detect, investigate, and prosecute financial crimes while deepening international cooperation and intelligence sharing.
She said, “The NFIU is pleased to announce that the FATF, at its October 2025 Plenary in Paris, France, has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list.
“This milestone marks a historic moment in Nigeria’s fight against serious financial crimes. The delisting of Nigeria underscores the country’s commitment to global standards in combating money laundering, terrorist financing, and proliferation financing.
“Nigeria has demonstrated sustained commitment to financial transparency and integrity. Key milestones 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, improving corporate transparency and accountability; implementation of stronger supervisory and preventive measures by public and private sector authorities to prevent abuse of Nigeria’s financial system; increased international cooperation and cross-border intelligence exchange with regional and global partners; and improved supervision of Designated Non-Financial Businesses and Professions.”
She noted that a high-level Nigerian delegation — including the Attorney-General of the Federation and Minister of Justice, the Ministers of Finance and Interior, and the Director of the NFIU — represented the country at the plenary.
Bakari, who led the reform implementation process, described the delisting as “a true test of Nigeria’s resilience, coordination, and unwavering commitment to reform.”
She commended President Bola Tinubu for his leadership and expressed appreciation to key government institutions, the National Assembly, the judiciary, and the private sector for their contributions to achieving the milestone.
Bakari urged all stakeholders to sustain the reform drive to ensure Nigeria maintains compliance with global financial integrity standards.
According to her, Burkina Faso, Mozambique, and South Africa were also removed from the grey list at the same plenary.
