President Bola Tinubu has welcomed the removal of Nigeria from the Financial Action Task Force (FATF) grey list, describing it as a major milestone in the nation’s economic and institutional reform journey.
The FATF, the world’s foremost intergovernmental body for combating money laundering, terrorist financing, and proliferation financing announced Nigeria’s delisting at its plenary session held on Friday in Paris, France.
Presidential spokesperson Mr. Bayo Onanuga disclosed this in a statement issued in Abuja.
Tinubu said the delisting signified a strong vote of confidence in Nigeria’s ongoing reforms to strengthen transparency, financial integrity, and governance standards.
“This development is a major milestone in Nigeria’s journey towards economic reform, institutional integrity, and global credibility,” the president stated.
He noted that the delisting followed the successful completion of Nigeria’s FATF Action Plan, which involved more than two years of coordinated reforms aimed at reinforcing the country’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) frameworks.
Nigeria was first placed on the FATF grey list in February 2023, indicating the need for stronger enforcement mechanisms, improved coordination, and enhanced transparency in financial operations.
Under President Tinubu’s administration, Nigeria implemented far-reaching legal and institutional measures as part of its economic transformation agenda.
The reforms were coordinated by the Nigerian Financial Intelligence Unit (NFIU) in collaboration with the Attorney-General of the Federation, and the Ministries of Finance, Justice, Interior, and Economy.
Tinubu acknowledged the critical roles played by the Secretary to the Government of the Federation, as well as ministers overseeing Defence, Aviation, Budget, Foreign Affairs, Solid Minerals, and State for Finance.
He also commended the National Security Adviser, the National Assembly, and the Judiciary for their contributions to the national efforts.
The president particularly praised NFIU Director/CEO, Ms. Hafsat Bakari, and her team for their diligence in implementing Nigeria’s FATF Action Plan.
“Without their dedication and sacrifice, today’s success could not have been achieved.
“I thank them for their efforts and urge other stakeholders to emulate their standards, ” he said.
He also commended Ministries, Agencies, and private sector partners who contributed through the National Task Force on AML/CFT, saying the delisting reflected Nigeria’s collective commitment to international financial standards.
According to the president, Nigeria’s removal from the FATF grey list is not merely a technical success but a strategic victory for the nation’s economy and global financial reputation.
“This exit marks the beginning of a new chapter in our financial reform agenda.
”Nigeria will sustain institutionalised reforms, deepen collaboration, and continue to build a financial system that Nigerians and the world can trust,”
he said.
