President Bola Ahmed Tinubu has welcomed Nigeria’s official removal from the Financial Action Task Force (FATF) grey list, describing it as a major milestone in the country’s journey toward economic reform, transparency, and global credibility.
The FATF announced Nigeria’s delisting at its plenary session in Paris, France, marking the end of over two years of sustained reforms and collaboration among key institutions. The FATF, known as the global standard-setting body for combating money laundering and terrorist financing, confirmed that Nigeria has successfully met all requirements under its Action Plan.
According to Mediaplusng.com, Nigeria was first placed on the grey list in February 2023, a move that signalled the need for stronger enforcement, transparency, and coordination in financial operations. Rather than see it as a setback, Nigeria treated the grey listing as a call to strengthen its systems. Under President Tinubu’s leadership, the country introduced wide-ranging legal, institutional, and operational reforms aligned with his administration’s economic transformation agenda.
The President credited the success to the coordinated efforts of the Nigerian Financial Intelligence Unit (NFIU), the Attorney-General of the Federation, and several ministries including Finance, Interior, and Justice, alongside the Central Bank of Nigeria (CBN), EFCC, and ICPC. He also acknowledged the support of the National Assembly, the Judiciary, and the Office of the National Security Adviser for their crucial roles in achieving this feat.
President Tinubu particularly commended Ms. Hafsat Abubakar Bakari, Director/CEO of the NFIU, for her leadership and dedication in ensuring Nigeria completed the FATF Action Plan. He said the agency’s efforts earned the nation recognition for strengthening its systems to combat money laundering, terrorist financing, and other financial crimes.
“Without the commitment and sacrifice of these dedicated professionals, today’s success would not have been possible,” Tinubu stated. “This is not just a technical accomplishment; it’s a strategic victory for Nigeria’s economy and a renewed vote of confidence in our financial governance.”
As reported by Mediaplusng.com, the President also appreciated the collaboration of international partners including the governments of France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission, for their technical assistance during the reform process.
President Tinubu emphasized that Nigeria’s removal from the FATF grey list marks the beginning of a new chapter in financial reforms. He reaffirmed his administration’s commitment to sustaining institutional integrity, deepening inter-agency collaboration, and building a financial system that Nigerians and the world can trust.
