President Bola Tinubu has openly embraced Nigeria’s deletion from the FATF grey list as a milestone moment for Nigeria in its drive for economic reform, institutional integrity, and global reputation.
FATF, the global leader on combating money laundering, terrorist financing, and proliferation financing, made Nigeria’s delisting a reality during its Plenary in Paris, France, on Friday. The decision came after Nigeria successfully completed its FATF Action Plan following over two years of relentless reform and cross-agency work to enhance the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) regime in the country.
In a statement released by his spokesman, Bayo Onanuga, President Tinubu labeled the delisting as “a major milestone in Nigeria’s path to economic reform,” with his words further stated that it is proof of the restored confidence of the global community in the country’s financial management.
The success was credited to the collaborative efforts led by the Nigerian Financial Intelligence Unit (NFIU) with support from strategic ministries, agencies, and security bodies under the reform agenda of his government.
Tinubu also appreciated NFIU Director/CEO, Ms. Hafsat Abubakar Bakari, for leadership and gallantry as well as the efforts of the Attorney-General of the Federation, the Ministers of Finance, Justice, and Interior, and the chiefs of the major institutions such as CBN, EFCC, ICPC, DSS, and NDLEA.
He also recognized the significant contribution of global allies like France, Germany, America, Britain, the United Nations, and the European Commission in technical assistance in reform processes across Nigeria.
Not only a technical achievement but also a strategic triumph for our economy and a renewed expression of faith in the financial sector of Nigeria,” Tinubu stated. “Our exit from the FATF grey list is the start of a new chapter in our financial reform agenda. We shall deepen and consolidate institution-level coordination to establish a financial system that Nigerians and the international community can have confidence in.”.
