FATF Delists Nigeria from Global Money Laundering Watchlist
By Joseph Iyaji | Akahi News

In a significant boost to Nigeria’s financial reputation, the Financial Action Task Force (FATF) has officially delisted Nigeria from its global money laundering greylist, signalling improved confidence in the country’s anti-money laundering and counter-terrorist financing frameworks.

The announcement was made on Friday following the conclusion of FATF’s plenary meeting, where four African countries — Nigeria, South Africa, Mozambique, and Burkina Faso — were removed from the greylist after demonstrating substantial progress in addressing strategic deficiencies.

A Milestone in Financial Reforms

The delisting marks a major milestone for Nigeria, which had been under FATF’s increased monitoring due to concerns over gaps in its financial regulation and enforcement capacity. The greylisting previously meant that Nigeria faced stricter scrutiny from international banks and investors, often resulting in slower transactions and reduced foreign investment confidence.

Akahi News gathered that the FATF decision follows years of reform efforts by the Nigerian government, the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), and other key regulatory bodies to strengthen compliance mechanisms and financial transparency.

A statement from the FATF noted that Nigeria’s removal from the greylist was based on the country’s successful implementation of key recommendations, including improved inter-agency collaboration, enhanced enforcement of anti-money laundering laws, and the establishment of robust monitoring systems to track illicit financial flows.

Positive Implications for the Nigerian Economy

Analysts who spoke with Akahi News described the delisting as a positive development that could ease international banking transactions, attract foreign investment, and restore Nigeria’s image within the global financial system.

According to financial experts, being removed from the greylist means Nigerian banks and financial institutions will now face fewer compliance restrictions, which could help stimulate cross-border trade and investment flows.

“This is a relief for Nigeria’s financial sector. The FATF delisting signals to global investors that the country is serious about financial integrity and international cooperation,” one analyst told Akahi News.

Strengthened Commitment to Anti-Money Laundering

Since being added to the FATF greylist, Nigeria has introduced several policy reforms aimed at curbing money laundering, terrorist financing, and related crimes. The EFCC, under its recent leadership, intensified its enforcement operations, while the Nigerian Financial Intelligence Unit (NFIU) improved its surveillance on suspicious financial transactions across the country.

Akahi News learnt that the federal government’s commitment to implementing FATF’s 40 Recommendations played a pivotal role in achieving compliance, especially in enhancing transparency in the real estate, banking, and non-profit sectors — areas previously identified as high-risk.

The Central Bank of Nigeria also strengthened its regulatory oversight, compelling financial institutions to conduct stricter Know Your Customer (KYC) checks and report any irregular transactions to the appropriate agencies.

A Step Toward Greater Financial Credibility

Experts have described the FATF’s decision as a vote of confidence in Nigeria’s reform agenda under President Bola Tinubu’s administration. The move is expected to further encourage global financial partners, development institutions, and investors to re-engage more confidently with Nigeria’s financial ecosystem.

Akahi News notes that this delisting aligns with the administration’s broader economic agenda, which includes restoring fiscal discipline, improving monetary stability, and attracting foreign capital to boost national development.

With Nigeria now off the FATF watchlist, observers anticipate a ripple effect that could enhance the country’s global creditworthiness, reduce international transaction costs, and strengthen bilateral trade partnerships.

Regional Context and Broader Impact

Nigeria joins other African nations such as South Africa, Mozambique, and Burkina Faso in exiting the greylist — a collective achievement that reflects growing regional cooperation in combating illicit financial flows.

The FATF commended these countries for demonstrating “high-level political commitment” to addressing strategic deficiencies and for sustaining reforms through effective enforcement and compliance.

As the country moves forward, Akahi News emphasises that maintaining this clean status will require consistent vigilance, periodic review of financial laws, and continued inter-agency collaboration to prevent a relapse into risky practices.

With this development, Nigeria’s financial landscape takes a decisive step toward global credibility, signalling renewed hope for a more transparent, secure, and attractive investment environment.

Akahi News — http://www.akahinews.org