Nigeria has been removed from the Financial Action Task Force (FATF) gray list after meeting global anti-money laundering standards.
President Bola Tinubu hailed the move as a boost to transparency and financial stability.
Nigeria has been officially removed from the Financial Action Task Force (FATF) gray list, which identifies countries with weaknesses in their systems against money laundering and terrorist financing.
The announcement was made after the FATF plenary meeting held on Friday. Alongside Nigeria, South Africa, Mozambique, and Burkina Faso were also taken off the list following significant progress in strengthening their financial monitoring systems.
According to the global financial watchdog, the decision came after Nigeria successfully completed its FATF Action Plan, showing over two years of consistent reforms and collaboration among key agencies to improve its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.
President Bola Tinubu welcomed the news, describing it as a major achievement that reflects Nigeria’s ongoing efforts to enhance transparency, financial stability, and global reputation.
The Financial Action Task Force is an international organization responsible for setting global standards to prevent money laundering, terrorism financing, and related crimes.
