The Federal Government has welcomed the decision of the European Commission to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
The decision was contained in a European Commission Delegated Regulation released this week, amending Delegated Regulation (EU) 2016/1675.
Nigeria’s removal follows its exit from the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring in October 2025, after the country successfully completed its FATF Action Plan.
In its assessment, the European Commission concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT framework and adequately addressed the technical and strategic deficiencies earlier identified by the FATF.
Consequently, Nigeria was delisted alongside other countries that recorded similar progress.
In a statement on Thursday, the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, quoted the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, as attributing the milestone to the reforms of President Bola Ahmed Tinubu.
Edun said, “This important milestone was only possible due to the extraordinary leadership, unwavering political will, and clear reform vision of His Excellency, President Bola Ahmed Tinubu, GCFR, under whose administration AML/CFT reforms were prioritised as a core component of Nigeria’s economic governance and financial system stability agenda.
“President Tinubu’s decisive leadership ensured strong inter-agency coordination, sustained engagement with international partners, and the full implementation of critical legal, regulatory and institutional reforms required to address the strategic deficiencies previously identified in Nigeria’s AML/CFT framework.”
The minister said the development would further enhance Nigeria’s global financial standing.
“It is expected to ease enhanced due-diligence requirements for Nigerian individuals, businesses and financial institutions transacting with European counterparts, improve correspondent banking relationships, boost investor confidence, and further integrate Nigeria into the international financial system,” he added.
Edun also commended the collective efforts of stakeholders involved in the reform process, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary and private sector operators.
He reaffirmed Nigeria’s commitment to sustaining the reforms, noting that the country would continue to work closely with the FATF, the European Union and other international partners.
“The removal of Nigeria from both the FATF grey list and the European Union’s high-risk list sends a clear and positive signal to the global community that Nigeria is firmly on the path of reform, transparency and economic renewal,” the statement said.
