Spaces for Change (S4C) has congratulated the Federal Republic of Nigeria on its successful exit from the Financial Action Task Force (FATF) grey list, marking a significant milestone in the country’s anti-money laundering and counter-terrorism financing efforts.
The announcement was made at the FATF plenary session held in Paris, France, in October 2025, where Nigeria, alongside Burkina Faso, South Africa, and Mozambique, was officially delisted. The FATF grey list comprises countries identified as having strategic deficiencies in their anti-money laundering and countering the financing of terrorism (AML/CFT) regimes.
Exiting the list indicates that the affected countries have effectively addressed the identified gaps and strengthened the integrity of their financial systems, as verified by the International Cooperative Review Group (ICRG).
Spaces for Change noted that before Nigeria and Burkina Faso’s removal from the grey list, it had been actively working in both countries to support the implementation of FATF recommendations, particularly as they relate to the non-profit sector.
The organisation’s advocacy focused on building the capacity of non-profit organisations, key agencies, and regulators engaged in terrorism financing risk assessments, thereby improving compliance with FATF Recommendation 8.
Other efforts by S4C included organising stakeholder dialogues, conducting targeted outreaches, and providing technical assistance to agencies implementing reform measures to curb money laundering and prevent the misuse of the non-profit sector for terrorism financing.
In 2022, Nigeria further demonstrated its commitment by removing non-profit organisations from the list of obliged reporting entities and designated non-financial professions and businesses (DNFBPs), as part of broader reforms to strengthen its AML/CFT framework.
As a result of these concerted efforts, Nigeria became the only West African country to attain a “Fully Compliant” rating on FATF Recommendation 8—an achievement that S4C described as a testament to the nation’s technical compliance and operational effectiveness.
“We congratulate the Federal Republic of Nigeria and, by extension, the Burkinabe authorities on this new milestone, which will eventually translate into a less restrictive environment for charities and investors,” said Victoria Ibezim-Ohaeri, Executive Director of Spaces for Change.
She reaffirmed S4C’s commitment to ensuring that counter-terrorism and anti-money laundering measures across the subregion are implemented without restricting civic freedoms or the operations of civil society organisations.
