Nigeria’s removal from the Financial Action Task Force (FATF) grey list has been hailed by government officials and regulators as a major milestone that reinforces investor confidence, strengthens financial transparency, and boosts the country’s global economic credibility.
FATF, the international body responsible for setting standards on anti-money laundering and counter-terrorism financing (AML/CFT), announced on Friday that Nigeria had been delisted after more than two years on the grey list for countries with strategic deficiencies in their financial systems. The decision followed the country’s successful implementation of a comprehensive 19-point action plan designed to address weaknesses in its AML/CFT framework.
Speaking on Channels Television’s Morning Brief, the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, described the development as a defining moment for Nigeria’s capital market and broader financial sector. He noted that delisting from the FATF grey list signals to the world that Nigeria is committed to transparency, sound governance, and robust regulatory standards.
“It means so much for us in the capital market; it means so much for us in the financial system,” Agama said. “The release of Nigeria from the FATF grey list means investor confidence will be boosted. It sends a strong signal to investors and trading partners that Nigeria has made significant progress in strengthening its anti-money laundering and countering of financing of terrorism regulations.”
Agama described the delisting as a “welcome call to new investments,” adding that it would stimulate productivity, attract foreign capital inflows, and support long-term economic growth. He commended the Nigerian Financial Intelligence Unit (NFIU), led by Hafsat Abubakar Bakari, for its leadership in coordinating the reforms that led to the delisting. “The NFIU was at the forefront of this initiative, and we commend their commitment, which has earned Nigeria global recognition for its strengthened institutional framework to tackle financial crimes,” he said.
The SEC boss also lauded the collaborative efforts of the National Security Adviser, the Secretary to the Government of the Federation, and several ministries, including Aviation, Budget and Economic Planning, Defence, Foreign Affairs, Solid Minerals, and State for Finance, as well as the National Assembly and the Judiciary, for their roles in achieving the milestone.
President Bola Tinubu also celebrated the development, describing it as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity, and global credibility.” He praised the dedication of the NFIU, the SEC, and other stakeholders whose collective efforts demonstrated Nigeria’s commitment to meeting international financial standards.
Experts say the FATF delisting will restore confidence among international investors, ease cross-border financial transactions, and open new opportunities for Nigeria’s economic expansion and global partnerships.
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