Escaping the grey zone

Nigeria has been removed from the FATF's financial grey list after successfully implementing reforms against money laundering and terrorist financing.

The Financial Action Task Force (FATF) has officially removed Nigeria from its “grey list” of countries under increased monitoring. The decision at the FATF’s October 2025 Plenary in Paris follows Nigeria’s full implementation of a 19-point action plan to strengthen its anti-money laundering and counter-terrorist financing (AML/CFT) systems. Nigeria had been placed on the list in February 2023 due to strategic deficiencies in its framework. Over two years, the government worked with FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) to enact key reforms, including the Money Laundering (Prevention and Prohibition) Act, 2022, the Terrorism (Prevention and Prohibition) Act, 2022, and the operationalisation of the Beneficial Ownership Register. NFIU Director Hafsat Bakari said the delisting affirms Nigeria’s commitment to global financial integrity and transparency, describing it as “a historic moment” in the country’s fight against financial crimes.