…Says nation now open, compliant, and ready for deeper global integration
By Emma Ujah, Abuja Bureau Chief
The Federal Government has hailed Nigeria’s removal from the Financial Action Task Force (FATF) grey list as a landmark achievement and a strong signal of renewed investor confidence in the country’s financial system.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who represented Nigeria at the FATF Plenary in Paris, announced the development in a statement released by the ministry. He described the delisting as “a decisive signal to investors that Nigeria is open, compliant, and ready for deeper financial integration.”
The FATF decision follows two years of intensive reforms and inter-agency collaboration to address identified deficiencies in Nigeria’s anti-money laundering and counter-terrorism financing frameworks. The reforms, coordinated across key government and financial institutions, were aimed at aligning Nigeria’s systems with global standards.
According to the Ministry of Finance, Nigeria’s delisting represents a major policy milestone and underscores the government’s continued commitment to transparency, integrity, and sound financial governance.
“Nigeria’s removal from the FATF grey list is not just a regulatory achievement. It is a reaffirmation of our collective determination to build a transparent economy — one where businesses can thrive, investors can trust, and sustainable growth can take root,”
— Wale Edun, Minister of Finance and Coordinating Minister of the Economy
Edun noted that the development would enhance Nigeria’s credibility in the global financial system, improving access to trade finance, foreign investment, and multilateral development support.
Financial analysts have long observed that countries on the FATF grey list often face increased transaction costs, reduced correspondent banking relationships, and limited access to international capital. Nigeria’s removal from the list, therefore, signals a positive shift expected to boost investor confidence and private-sector inflows.
The minister commended the Central Bank of Nigeria (CBN), the Nigerian Financial Intelligence Unit (NFIU), and other partner agencies for their coordinated implementation of the FATF Action Plan. He assured that reforms will continue to evolve to sustain compliance and prevent illicit financial flows.
Edun emphasized that the milestone aligns with the Tinubu administration’s broader economic reform agenda, which focuses on restoring macroeconomic stability, expanding trade, and fostering a competitive business environment.
With this achievement, Nigeria now joins the ranks of countries recognized for maintaining robust anti-financial crime systems — a solid foundation, Edun said, upon which “a resilient, investor-friendly economy can flourish.”
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