In a significant boost to the nation’s global financial standing, the European Commission has officially removed Nigeria from its list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
The decision, announced this week via a European Commission Delegated Regulation, marks the conclusion of a rigorous reform process aimed at securing Nigeria’s financial borders and aligning with international transparency standards.
In a statement signed by Mohammed Manga, Director of Information and Public Relations, the Ministry noted that the twin removal from both the FATF and EU lists sends a clear and positive signal to the global community that Nigeria is firmly on the path of reform and economic renewal.
The delisting follows Nigeria’s successful exit from the Financial Action Task Force (FATF) “Grey List” in October 2025. According to the Federal Ministry of Finance, the European Commission concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and addressed previous strategic deficiencies.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, attributed the achievement to the specific policy direction of the current administration.
“This important milestone was only possible due to the extraordinary leadership, unwavering political will, and clear reform vision of President Bola Ahmed Tinubu,” Edun stated. “Under this administration, AML/CFT reforms were prioritised as a core component of Nigeria’s economic governance and financial system stability agenda.”
For years, being on the “high-risk” list meant that Nigerian businesses and individuals faced grueling “enhanced due diligence” when dealing with European banks and partners. This often led to delayed transactions, higher costs, and strained correspondent banking relationships.
The removal is expected to provide several immediate benefits, including the reduction of scrutiny for Nigerian businesses operating in Europe and a renewed sense of confidence for foreign direct investors. Furthermore, the move facilitates better correspondent banking relationships and ensures Nigeria’s deeper integration into the international financial system.
While celebrating the exit, the federal government emphasised that this is not the end of the road. Minister Edun reaffirmed the country’s commitment to maintaining these standards to ensure the financial system remains resilient, transparent, and aligned with global best practices.
The Minister also extended credit to the inter-agency teams that powered the reform, specifically mentioning the Nigerian Financial Intelligence Unit (NFIU), financial sector regulators, law enforcement agencies, and the Judiciary.
