Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says the country’s removal from the Financial Action Task Force (FATF) grey list reflects Nigeria’s clear policy direction and improving financial integrity.

FATF, the global watchdog on money laundering and terrorism financing, announced on Friday that Nigeria had been delisted from its grey list which includes countries with strategic deficiencies in anti-money laundering and counter-terrorism financing systems.

In a statement issued by the apex bank, Cardoso described the development as a major endorsement of Nigeria’s ongoing economic and financial reforms.

“It reflects a clear policy direction and the coordinated efforts of key national institutions working together to deliver sustainable, standards-based reforms,” he said.

The CBN governor added that the next phase of the bank’s agenda is to consolidate these gains by deepening compliance, promoting innovation, and strengthening financial trust to enhance Nigeria’s global credibility.

Nigeria joins South Africa, Mozambique, and Burkina Faso as the latest African nations to achieve this milestone, signaling broader progress in financial governance across the continent.

Cardoso reaffirmed the CBN’s commitment to maintaining a transparent and resilient financial system that promotes stability, growth, and inclusion.

Earlier, President Bola Tinubu hailed Nigeria’s removal from the grey list as a significant achievement in the country’s financial reform journey.