NFIU HAILS INTER-AGENCY COLLABORATION FOLLOWING NIGERIA’S EXIT FROM FATF GREY LIST AND EU AML/CFT LIST

A number of decisions made by global anti-money laundering and counter-terrorism financing bodies, over the last few months, have validated the extensive reforms Nigeria has implemented since 2023. The country’s successful exit from the Financial Action Task Force (FATF) Grey List in October 2025 and the intention of the European Union (EU) to remove Nigeria from the list of high-risk third countries at the end of January 2026, mark significant milestones in the country’s financial integrity reform journey.

While the NFIU has been at the forefront of ensuring the country is fully compliant with international AML/CFT/CPF standards, these achievements reflect a whole-of-government and whole-of-society approach to building strong barriers to illicit finance.

In recognition of this collective accomplishment, the Nigerian Financial Intelligence Unit (NFIU) extends its profound appreciation to all Ministries, Departments and Agencies (MDAs), the Legislature, the Judiciary, the private sector and non-profit organisations whose coordinated actions and commitment made this outcome possible.

Commenting on the development, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described decisions of the FATF and the EU as proof of the credibility of Nigeria’s reforms.

“Nigeria’s exit from the FATF Grey List and the European Union’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms. This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system.”

Ms. Bakari noted that “the success we have enjoyed would not have been possible without the guidance of His Excellency President Bola Ahmed Tinubu GCFR and his commitment to building a safe and prosperous Nigeria”.

Strategic leadership provided by the Honourable Attorney-General of the Federation and Minister of Justice, the Honourable Minister of Finance and Coordinating Minister for the Economy, the Honourable Minister of Interior, and the Honourable Minister of State for Finance, through the Inter-Ministerial Committee on AML/CFT/CPF, ensured effective oversight, policy coherence and sustained momentum throughout the reform process.

Critical support was also delivered by the Honourable Ministers of Aviation, Budget and Economic Planning, Defence, Industry, Trade and Investment and, Solid Minerals Development, whose interventions helped create a secure and enabling regulatory environment across priority sectors of the economy.

National coordination on security-related risks was strengthened under the leadership of the National Security Adviser, particularly in addressing terrorism and terrorism financing through enhanced inter-agency collaboration.

Effective supervision of the financial and non-financial sectors was reinforced by the Central Bank of Nigeria, the Securities and Exchange Commission, the National Insurance Commission, and the Special Control Unit Against Money Laundering (SCUML) of the Economic and Financial Crimes Commission, through improved risk-based supervision, enhanced market entry controls, effective suspicious transaction reporting as well as application of targeted financial sanctions.

Progress on corporate transparency was driven by the Corporate Affairs Commission, alongside the Nigeria Export Processing Zones Authority and the Oil and Gas Free Zones Authority, through the deployment of robust systems aligned with international best practice.

Law enforcement outcomes were strengthened through the work of the Nigeria Police Force, Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission, Department of State Services, Defence Intelligence Agency, National Drug Law Enforcement Agency and the Code of Conduct Bureau, particularly in the investigation and prosecution of high-risk predicate offences.

At Nigeria’s borders and ports of entry, the Nigeria Customs Service, Nigeria Immigration Service, Federal Airports Authority of Nigeria and the Nigeria Civil Aviation Authority played a vital role in detecting and prosecuting cross-border cash smuggling and the illicit movement of high-value goods, with the EFCC supporting these efforts through world class investigative and prosecutorial capabilities.

Safeguards within the non-profit sector were enhanced through the efforts of SCUML and its domestic and international partners, strengthening protections against terrorist abuse.

Further highlighting the importance of sustained collaboration, the NFIU CEO noted that “The successful delisting of Nigeria from the FATF Grey List and the EU AML/CFT list is a clear signal that our reforms are deep, credible and sustainable. It reflects years of disciplined implementation across government, law enforcement, the judiciary and the private sector.”

Strong prosecutorial outcomes and international cooperation were achieved through the leadership of the Federal Ministry of Justice, particularly in securing convictions, facilitating mutual legal assistance and enabling the recovery and repatriation of illicit assets.

The Judiciary, especially the Chief Judge and Justices of the Federal High Court, is commended for timely adjudication and the imposition of proportionate and dissuasive sanctions which serve as an effective deterrent.

Legislative backing from the President of the Senate, Speaker of the House of Representatives, Principal Officers of the Senate and House, Chairmen, Senate Committees on Anti-Corruption and Financial Crimes, and Judiciary, Human Rights and Legal Matters and, the Chairman, House Committee on Financial Crimes, provided the effective legal foundation required to sustain reforms.

The contribution of the private sector and non-profit organisations, particularly compliance officers across financial institutions, designated non-financial businesses and professions, and virtual asset service providers, remains central to the effectiveness of Nigeria’s AML/CFT/CPF framework.

Reaffirming Nigeria’s forward-looking posture, the NFIU CEO added “This achievement belongs to Nigeria and its partners. The NFIU remains steadfast in its resolve to deepen cooperation, enhance intelligence-led supervision and ensure that Nigeria continues to meet and exceed global AML/CFT/CPF expectations.”

As Nigeria consolidates these gains and begins preparation for its next AML/CFT/CPF Mutual Evaluation, the NFIU reaffirms its commitment to continued partnership, vigilance and innovation to safeguard the integrity of the financial