Nigeria has officially been removed from the Financial Action Task Force’s (FATF) “grey list” of jurisdictions under increased monitoring, signalling that the country has made sufficient progress to address deficiencies in anti-money laundering and counter-terrorism financing systems.
The delisting was announced at the FATF plenary session held in Paris, where international observers and rights groups celebrated Nigeria’s efforts to strengthen its regulatory oversight and inter-agency coordination. The Senate of Nigeria also lauded the development, arguing it demonstrates substantive reforms under President Tinubu’s administration. According to the Senate, institutional improvements, increased cooperation among financial intelligence units, and enforcement of earlier action plans contributed to the positive outcome.
Advocacy groups such as Spaces for Change (S4C) have praised the move, noting that the delisting will ease constraints on non-profit organizations, reduce scrutiny in international transactions, and restore more confidence in Nigeria’s financial system. Similarly, global partners including the UK have expressed support, interpreting Nigeria’s exit as a signal of economic stability and improved credibility.
While the removal from the grey list is a symbolic victory, observers caution that the real test lies in sustaining compliance, ensuring consistent enforcement, and keeping up momentum. Critics warn that without vigilance, Nigeria could once again slip into scrutiny should systemic weaknesses re-emerge.
