- The ministry added that Nigeria’s exit from both the FATF grey list and the EU high-risk list sends a strong signal of renewed transparency
- The Federal Government noted that the development is expected to ease enhanced due diligence requirements for Nigerian individuals
- Wale Edun, attributed the achievement to the reform-driven leadership of President Bola Ahmed Tinubu
The Federal Government has welcomed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), describing the move as a major boost to the country’s global financial standing.
Eko Hot Blog reports that the decision was contained in a newly issued European Commission Delegated Regulation amending Regulation 2016/1675.
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The development comes months after Nigeria was taken off the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring in October 2025, following the completion of its Action Plan.
In a statement released on Thursday by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, the government said the delisting reflects sustained reforms and effective collaboration among key institutions.
Reacting to the announcement, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, attributed the achievement to the reform-driven leadership of President Bola Ahmed Tinubu.
He said the President’s approach strengthened inter-agency cooperation, deepened engagement with international partners, and ensured the implementation of critical legal, regulatory and institutional measures.
According to the statement, the European Commission concluded that Nigeria had significantly improved the effectiveness of its AML/CFT framework and addressed the deficiencies previously identified by the FATF, leading to its removal from the EU’s high-risk list alongside other reform-compliant countries.
The Federal Government noted that the development is expected to ease enhanced due diligence requirements for Nigerian individuals, businesses and financial institutions operating with European partners.
It added that the decision would help improve correspondent banking relationships, boost investor confidence and further integrate Nigeria into the global financial system.
Edun also commended the roles played by financial regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory bodies, the judiciary and private sector stakeholders in achieving the milestone.
While celebrating the progress, the minister reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT reforms, stressing that the country would continue to work closely with the FATF, the European Union and other international partners.
The ministry added that Nigeria’s exit from both the FATF grey list and the EU high-risk list sends a strong signal of renewed transparency, reform and economic credibility to the international community.
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