By Uboh-Ekong Treasure
The Financial Action Task Force (FATF), the international standard setter for combating money laundering and terrorist financing, has officially removed Nigeria from its list of jurisdictions under increased monitoring, commonly referred to as the “grey list.”
The decision was announced on Friday, October 24, 2025, at the conclusion of the FATF’s plenary meeting in Paris, France. The move follows nearly three years of reforms undertaken by Nigerian authorities to strengthen the country’s anti-money laundering and counter terrorist financing (AML/CFT) framework.
Nigeria was placed on the FATF grey list in February 2023 after the body identified strategic deficiencies in its AML/CFT systems. However, in its latest review, FATF confirmed that the country had made significant progress in implementing the agreed action plan.
“Nigeria has made substantial progress in addressing the technical and strategic deficiencies identified in its action plan and is no longer subject to increased monitoring,” FATF said.
Alongside Nigeria, South Africa, Mozambique, and Burkina Faso were also delisted after successfully meeting the FATF’s compliance benchmarks.
President Bola Ahmed Tinubu hailed the announcement as a major boost for Nigeria’s financial reputation, describing it as evidence of the country’s renewed commitment to transparency and international cooperation.
“This development reaffirms our administration’s resolve to strengthen institutions, promote transparency, and uphold global financial standards,” President Tinubu said in a statement issued through his media office.
He commended the coordinated efforts of the Nigerian Financial Intelligence Unit (NFIU), the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), and other agencies that worked to implement the FATF mandated reforms.
The FATF, however, emphasized that delisting does not end Nigeria’s responsibilities. The body urged the government to sustain its progress and continue effective enforcement of AML/CFT regulations to prevent future lapses.
“FATF will continue to engage with Nigeria through its regular follow up process to ensure continued compliance,” the organization stated.
