The Federal Government of Nigeria has welcomed the decision of the European Commission to remove the country 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. It follows Nigeria’s earlier removal 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 regime and satisfactorily addressed the technical and strategic deficiencies previously identified by the FATF. Consequently, Nigeria was removed from the EU list of high-risk third countries, alongside other jurisdictions that have recorded similar progress.
In a statement on Thursday, Mohammed Manga, Director, Information and Public Relations, Federal Ministry of Finance, quoted the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, as attributing the development to President Bola Ahmed Tinubu’s reform agenda.
“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,” Edun said.
“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.”
Edun added that the decision represents a major boost to Nigeria’s global financial credibility. “It is expected to ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions transacting with European counterparts, improve correspondent banking relationships, enhance investor confidence, and further integrate Nigeria into the international financial system,” he said.
The minister commended the collective efforts of stakeholders involved in achieving the milestone, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators, noting that their professionalism and commitment were critical to the success of the reforms.
“While welcoming this decision, Mr. Edun reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT reforms. Nigeria will continue to work closely with the FATF, the European Union, and other international partners to ensure that its financial system remains resilient, transparent, and aligned with global best practices.
“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 under the leadership of President Bola Ahmed Tinubu.”
