The Financial Action Task Force has officially removed Nigeria from its list of jurisdictions under increased monitoring, also known as the grey list.
The decision was taken at the FATF October 2025 Plenary in Paris, France, following the country’s successful implementation of a 19-point action plan aimed at strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
Nigeria was placed on the grey list in February 2023 after the FATF identified strategic deficiencies in its AML/CFT systems.
Over the past two years, the Federal Government worked with the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa to address the identified gaps through legislative reforms, institutional strengthening, and enhanced inter-agency coordination.
Key reforms cited by the FATF include the enactment and enforcement of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Terrorism (Prevention and Prohibition) Act, 2022; the operationalisation of the Beneficial Ownership Register; and improved supervision of designated non-financial businesses and professions.
Announcing the country’s exit from the grey list in a statement released on Friday, 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.
She said, “The NFIU is pleased to announce that the FATF, at its October 2025 Plenary in Paris, France, has officially removed Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list.
