President Bola Ahmed Tinubu has lauded Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity, and global credibility.”
Nigeria was placed on the FATF grey list in February 2023 after the global body identified strategic deficiencies in the country’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) systems. However, after more than two years of reforms, the FATF officially delisted Nigeria, acknowledging the nation’s successful implementation of a 19-point action plan to strengthen its financial integrity framework.
In a statement released on Friday by presidential spokesman Bayo Onanuga, Tinubu expressed pride in the achievement, noting that it underscores his administration’s commitment to economic transparency and institutional accountability.
The President extended special commendation to the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, and her team for their diligence in ensuring the full and timely implementation of Nigeria’s AML/CFT reforms.
“Without their dedication and sacrifice, today’s success could not have been achieved,” Tinubu said, urging other government agencies to emulate the NFIU’s standards.
The statement also highlighted the collective efforts of key stakeholders, including the Secretary to the Government of the Federation, several Ministers, and heads of security and regulatory institutions, such as the Governor of the Central Bank of Nigeria, the Chairman of the EFCC, the Inspector-General of Police, the Registrar-General of the Corporate Affairs Commission, and others.
Tinubu further expressed gratitude to the National Assembly, the Judiciary, and the private sector representatives who played significant roles through the National Task Force on AML/CFT.
According to the President, Nigeria’s removal from the FATF grey list reflects growing international confidence in the country’s ability to combat financial crimes and attract sustainable foreign investments.
