By Peter Onyekachukwu 
By Peter Onyekachukeu
Nigeria has recorded a major global milestone with its removal from the Financial Action Task Force (FATF) grey list, a development that restores international confidence in the country’s financial system and reinforces President Bola Tinubu’s reform-driven economic agenda.
The FATF, the world’s leading body on combating money laundering and terrorist financing, announced on Friday that Nigeria and three other African countries South Africa, Mozambique, and Burkina Faso — had been delisted after demonstrating significant progress in strengthening their anti-money laundering and counter-terrorism financing frameworks.
Reacting to the development, President Bola Tinubu described Nigeria’s exit as a landmark achievement that reflects the nation’s unwavering commitment to financial integrity, transparency, and institutional reform.
In a statement signed by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, the President said the delisting followed Nigeria’s full and timely completion of its FATF Action Plan after over two years of sustained reform, coordination, and improved inter-agency collaboration.
Onanuga explained that the milestone was achieved through the joint efforts of key institutions, including the Nigerian Financial Intelligence Unit (NFIU), the Office of the Attorney-General of the Federation, the Ministry of Finance and Coordinating Minister of the Economy, and the Ministry of Interior.
President Tinubu commended the Director and Chief Executive Officer of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their dedication, professionalism, and leadership in ensuring Nigeria’s compliance with FATF standards.
“Without their diligence and sacrifice, today’s success would not have been achieved,” the President said. “I thank them for their efforts and urge other institutions to emulate their commitment and integrity.”
Tinubu emphasized that the delisting is not just a technical outcome but a strategic achievement that will enhance investor confidence and strengthen Nigeria’s international standing.
“The exit from the FATF grey list marks the beginning of a new chapter in our economic reform journey,” he stated. “Nigeria will sustain the momentum of institutional reform, deepen collaboration, and build a financial system that both Nigerians and the world can trust.”
Nigeria was placed on the FATF grey list in February 2023 after the global body identified weaknesses in its anti-money laundering and counter-terrorism financing systems — a classification that subjected the country to heightened international scrutiny and complicated cross-border financial transactions.