President Tinubu celebrates Nigeria’s removal from the FATF grey list, calling it a major milestone in economic and institutional reforms.
This event marks a major milestone for Nigeria as President Bola Tinubu celebrated the country’s removal from the Financial Action Task Force (FATF) grey list, describing it as a significant achievement in the nation’s ongoing economic and institutional reform drive.
The FATF, the global watchdog on money laundering, terrorist financing, and proliferation financing, announced Nigeria’s delisting on Friday during its plenary session in Paris, France, officially lifting the country from the category of nations under increased monitoring.
A Milestone in Financial Reform
Reacting to the announcement, President Tinubu said the development underscores Nigeria’s progress in strengthening its anti-money laundering (AML) and counter-terrorism financing (CFT) systems after more than two years of reforms and inter-agency collaboration.
Coordinated National Effort
Tinubu credited the success to the coordinated efforts led by the Nigerian Financial Intelligence Unit (NFIU), working in partnership with key ministries and agencies, including the Office of the Attorney-General of the Federation, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Interior.
He commended the Director and Chief Executive Officer of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their dedication and professionalism, which earned Nigeria global recognition for its strengthened financial oversight.
The President also acknowledged the contributions of the Secretary to the Government of the Federation, members of the Federal Executive Council, the National Assembly, the Judiciary, and private sector representatives on the National Task Force on AML/CFT.
Institutional and International Collaboration
Institutions that played key roles in achieving the milestone include the Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), National Drug Law Enforcement Agency (NDLEA), Department of State Services (DSS), Nigeria Customs Service, Nigeria Police Force, and the Securities and Exchange Commission (SEC).
Tinubu also expressed appreciation for the technical support of international partners, including the governments of France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission.
A Strategic Victory for Nigeria
The President described Nigeria’s delisting as “not just a technical accomplishment, but a strategic victory for our economy and a renewed vote of confidence in our financial governance.”
He assured that his administration would continue to strengthen institutional reforms that made the feat possible, ensuring that Nigeria’s financial system remains credible, transparent, and globally trusted.
