Nigeria has officially been removed from the Financial Action Task Force (FATF) grey list, a significant development announced by FATF President Elisa de Anda Madrazo at the plenary session in Paris, France. Madrazo extended her congratulations to Nigeria, acknowledging the nation's robust political will and exemplary inter-agency collaboration in the fight against financial crimes over the past two years, specifically under President Bola Tinubu's administration.

The FATF boss highlighted that Nigeria's removal was not merely due to a political commitment to exit the grey list, but rather a direct result of tangible changes and effective political measures implemented on the ground. She stated, "In Nigeria, we have seen that political commitment that has translated to the change we have seen on the ground." After over two years of sustained efforts, Nigeria has demonstrated a stronger capacity to investigate and prosecute financial offenses, which is crucial for the nation to effectively combat crimes that severely impact its communities, such as drug trafficking and terrorist financing.

Madrazo further lauded Nigeria for its comprehensive government-wide policy reforms, enhanced inter-agency coordination and cooperation. She specifically noted an important improvement in the transparency of beneficial ownership structures and stronger supervisory practices within non-financial sectors, particularly real estate agencies. These combined efforts and the political dedication were instrumental in the plenary's decision that Nigeria had fully addressed its action plan and qualified for removal from the grey list.

The announcement also included the removal of three other African nations—Mozambique, Burkina Faso, and South Africa—from the grey list, underscoring a broader regional effort in combating financial illicit flows. The FATF President urged Nigeria to maintain its exemplary work for the continued benefit of its citizens.

Nigeria's commitment was further exemplified by the presence of three ministers at the week-long events in Paris. The Nigeria Interministerial Committee on Anti-Money Laundering/Countering the Financing of Terrorism/Proliferation Financing (AML/CFT/PF) is led by the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), with the Minister of Finance, Wale Edun, and Minister of Interior, Olubunmi Ojo, serving as alternate chairs.

In a speech delivered on behalf of Nigeria, Minister Wale Edun expressed the country's honor in contributing its expertise to the global fight against serious crimes that threaten shared security and prosperity. He conveyed Nigeria's gratitude to international partners, including the governments of France, Germany, the United Kingdom, and the United States of America, as well as the European Commission, for their unwavering support throughout the process. Edun affirmed Nigeria's resolve to continue working towards a safer and more secure nation, building on the dedication of its citizens.