Nigeria has achieved a significant milestone by being officially removed from the Financial Action Task Force (FATF) grey list, a development widely hailed as a national victory for integrity, resilience, and inter-agency collaboration. This delisting, announced at the FATF's October 2025 plenary session in Paris, follows years of extensive reform and signifies a restoration of global confidence in Nigeria’s financial system, reaffirming its commitment to meeting international standards in anti-money laundering (AML) and counter-terrorism financing (CTF).

Nigeria was initially placed on the FATF grey list in February 2021, after the global watchdog identified strategic deficiencies in its systems for combating money laundering and terrorism financing. This designation meant Nigeria was under increased monitoring for inadequate implementation of FATF recommendations. Following this, the nation embarked on an extensive two-year reform process, involving legislative amendments, institutional strengthening, and robust inter-agency coordination.

Key legislative reforms were crucial to this achievement, including the passage and amendment of significant laws such as the Money Laundering (Prevention and Prohibition) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022, and the Proceeds of Crime (Recovery and Management) Act. The operationalization of the Beneficial Ownership Register also played a vital role in strengthening Nigeria’s legal and institutional frameworks against financial crimes and illicit financial flows. The House of Representatives Committee on Financial Crimes, led by Hon. Ginger Obinna Onwusibe, commended the National Assembly for its role in enacting these crucial reforms and highlighted the committee's sustained oversight of institutions like the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).

The reform effort was a product of dedicated collaboration among numerous key institutions. The Nigerian Financial Intelligence Unit (NFIU) coordinated the process, working in partnership with the Office of the Attorney-General of the Federation and Minister of Justice, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Interior. Other contributing agencies included the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), the Federal Ministry of Justice, Nigeria Police Force, and Nigeria Customs Service.

President Bola Ahmed Tinubu lauded the delisting as a strategic victory for the country’s economy, reaffirming that transparency, accountability, and sound governance remain central to the nation’s vision. He described his administration's approach to the grey list designation as a