President Bola Tinubu has celebrated Nigeria’s removal from the Financial Action Task Force (FATF) grey list, calling it a game-changer for the country’s economy and international standing.
The global financial crimes watchdog announced the decision during its October 2025 meeting in Paris after Nigeria successfully completed a 19-point action plan to combat money laundering and terrorism financing.
“This isn’t just a technical win, it’s a strategic victory for our economy and proof that the world now trusts Nigeria’s financial system again,” Tinubu said through his spokesperson, Bayo Onanuga.
Nigeria landed on FATF’s grey list in February 2023 due to weak enforcement, poor coordination between agencies, and murky financial practices.
Being grey-listed made international transactions harder and scared off potential investors.
But Tinubu’s government treated it as a wake-up call. Led by the Nigerian Financial Intelligence Unit (NFIU) and supported by the finance, justice, and interior ministries, Nigeria launched a massive cleanup of its financial system.
The president specifically praised NFIU boss Hafsat Bakari for driving the reforms that got Nigeria back in the world’s good books.
“Her team worked tirelessly to meet every requirement, and now we’re being recognized globally for getting serious about fighting financial crimes,” he said.
Bakari called the delisting “a historic moment” that proves Nigeria can deliver when it commits to reform. She highlighted several key moves that made the difference:
- Enforcing updated money laundering and anti-terrorism laws passed in 2022
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Creating a public register of who actually owns Nigerian companies
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Tightening rules for non-bank businesses handling money
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Training law enforcement to better investigate and prosecute financial crimes
“This shows our resilience and determination to meet global standards,” Bakari said, thanking everyone from the president to the National Assembly and private sector for making it happen.
Nigeria wasn’t alone, South Africa, Mozambique, and Burkina Faso also got removed from the list at the same meeting.
Financial experts say Nigeria’s exit should make cross-border business easier, attract more foreign investment, and restore confidence in the country’s banking sector.
Tinubu says this is just the beginning. “We’ll keep strengthening our institutions and building a financial system that Nigerians, and the world, can trust,” he promised.
