Nigeria has been officially removed from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring, widely known as the grey list.

The decision was announced at the FATF October 2025 Plenary held in Paris, France, following Nigeria’s successful implementation of a 19-point action plan designed to strengthen its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.

Nigeria was placed on the grey list in February 2023 after the FATF identified strategic deficiencies in its AML/CFT systems. Over the past two years, the Federal Government has worked closely with the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) to close the identified gaps through legislative reforms, institutional strengthening, and improved inter-agency collaboration.

Key reforms highlighted by the FATF include the enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022 and the Terrorism (Prevention and Prohibition) Act, 2022, the operationalisation of the Beneficial Ownership Register, and stronger supervision of designated non-financial businesses and professions.

Announcing the development in a statement on Friday, the Director and Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, said Nigeria’s removal from the grey list marks a major milestone in the country’s fight against financial crimes.

“The NFIU is pleased to announce that the FATF, at its October 2025 Plenary in Paris, France, has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list,” Bakari said.

“This milestone marks a historic moment in Nigeria’s fight against serious financial crimes. The delisting underscores the country’s commitment to global standards in combating money laundering, terrorist financing, and proliferation financing.”

Bakari noted that Nigeria had enhanced the capacity of its intelligence and law enforcement agencies to detect, investigate, and prosecute financial crimes, while also strengthening international cooperation and intelligence sharing.

According to her, the Nigerian delegation to the plenary included the Attorney-General of the Federation and Minister of Justice, the Ministers of Finance and Interior, and the Director of the NFIU.

Bakari, who led the implementation of the reform plan, described the delisting as “a true test of Nigeria’s resilience, coordination and unwavering commitment to reform.”

She commended President Bola Tinubu for his leadership, and acknowledged the contributions of key government institutions, the National Assembly, the judiciary, and the private sector in achieving the milestone.

Bakari urged all stakeholders to sustain the reform momentum to ensure Nigeria’s continued compliance with global financial integrity standards.

She added that Burkina Faso, Mozambique, and South Africa were also removed from the FATF grey list during the same plenary session.