By Merciful Omoba
President Bola Tinubu has hailed Nigeria’s removal from the Financial Action Task Force (FATF) “grey list” as a major boost to the nation’s economy and financial credibility.
The FATF, the global watchdog on money laundering and terrorist financing, announced Nigeria’s delisting at its October 2025 plenary in Paris following the country’s full implementation of a 19-point action plan to strengthen its anti-money laundering and counter-terrorist financing systems.
Tinubu, in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, described the move as “a strategic victory for our economy and renewed confidence in Nigeria’s financial governance.”
Nigeria was placed on the grey list in February 2023 over weak enforcement and poor inter-agency coordination.
The President commended the Nigerian Financial Intelligence Unit (NFIU), and its Director/CEO, Hafsat Bakari, for leading reforms that met FATF standards.
Bakari confirmed the delisting, noting that it reflected Nigeria’s commitment to global financial integrity through stronger laws, enforcement, and cross-border intelligence sharing.
Analysts say the exit will ease cross-border transactions, attract foreign investment, and boost confidence in Nigeria’s financial system.
