The Financial Action Task Force (FATF) has officially removed Nigeria from its grey list of jurisdictions under increased monitoring, a decision made at the FATF October 2025 Plenary in Paris, France.
The move follows Nigeria’s successful implementation of a 19-point action plan to strengthen its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
Nigeria had been placed on the grey list in February 2023 after the FATF identified strategic weaknesses in its AML/CFT systems. 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 these gaps through legislative reforms, institutional strengthening, and enhanced coordination among agencies.
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; operationalisation of the Beneficial Ownership Register; and improved oversight of designated non-financial businesses and professions.
Announcing the delisting on Friday, Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, said Nigeria had strengthened the capacity of its intelligence and law enforcement agencies to detect, investigate, and prosecute financial crimes, while deepening international cooperation and intelligence sharing.
“The FATF has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list. This milestone is a historic moment in Nigeria’s fight against serious financial crimes and underscores the country’s commitment to global standards in combating money laundering, terrorist financing, and proliferation financing,” Bakari said.
She added that the country’s achievements include enhanced corporate transparency through the Beneficial Ownership Register, stronger preventive measures by public and private sector authorities, increased cross-border intelligence exchange, and improved supervision of designated non-financial businesses and professions.
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 Nigeria at the plenary. Bakari, who led the reform implementation, described the delisting as “a true test of Nigeria’s resilience, coordination, and unwavering commitment to reform,” while commending President Bola Tinubu, key government institutions, the National Assembly, judiciary, and private sector for their contributions.
She urged stakeholders to maintain the reform 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 plenary.
