By Samuel Omotere, Abuja
The United Kingdom High Commissioner to Nigeria, Richard Montgomery, and the Nigeria Network of NGOs have hailed Nigeria’s removal from the Financial Action Task Force grey list, describing it as a major step forward for the country’s financial integrity, transparency, and global reputation.
The FATF, at its October 2025 Plenary in Paris, officially delisted Nigeria from its list of jurisdictions under increased monitoring after the country successfully implemented a 19-point Action Plan designed to strengthen its Anti-Money Laundering and Countering the Financing of Terrorism framework.
Nigeria was placed on the grey list in February 2023 after FATF identified strategic deficiencies in its AML/CFT systems.
Since then, the Federal Government has worked closely with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa to address the gaps through legislative reforms, institutional strengthening, and inter-agency coordination.
Key reforms cited by FATF include the Money Laundering (Prevention and Prohibition) Act, 2022, the Terrorism (Prevention and Prohibition) Act, 2022, the operationalisation of the Beneficial Ownership Register, and improved supervision of designated non-financial businesses and professions.
In a statement confirming the development, the Director/CEO of the Nigerian Financial Intelligence Unit, Hafsat Bakari, said Nigeria had enhanced the capacity of its intelligence and law enforcement agencies to detect, investigate, and prosecute financial crimes, while deepening international cooperation and intelligence sharing.
Reacting to the delisting in a post on X, the UK High Commissioner to Nigeria, Richard Montgomery, said the decision was “brilliant news” for the country and would enhance investor confidence
