Tinubu welcomes delisting of Nigeria from FATF grey list

Tinubu

By JAMIU JAMODU

President Bola Ahmed Tinubu GCFR has welcomed Nigeria’s delisting from the Financial Action Task Force (FATF) grey list.

The FATF announced the delisting at its Plenary in Paris, France, today.

The FATF is the world’s foremost standard-setting body for combating money laundering, terrorist financing and proliferation financing.

The announcement formally removed Nigeria from the list of jurisdictions under increased monitoring, commonly referred to as the “grey list”.

President Tinubu described the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.”

This decision follows Nigeria’s successful and timely completion of its FATF Action Plan, marking over two years of sustained effort, reform and inter-agency coordination aimed at strengthening the country’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

In February 2023, the FATF placed Nigeria on the grey list. The message from the global community was clear: the nation needed more vigorous enforcement, better coordination, and greater transparency. Rather than treat this as a setback, Nigeria viewed it as a call to action.

Under President Tinubu’s strategic leadership and in line with the economic transformation agenda of his administration, Nigeria implemented far-reaching legal, institutional and operational reforms.