President Bola Tinubu has welcomed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as a major milestone in the country’s drive for economic reform, institutional integrity, and global financial credibility.
The FATF, the world’s foremost standard-setting body for combating money laundering, terrorist financing, and proliferation financing, announced Nigeria’s delisting at its plenary session held in Paris, France, on Friday.
According to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the development formally removes Nigeria from the list of jurisdictions under increased monitoring, commonly referred to as the “grey list.”
Reacting to the announcement, President Tinubu commended the Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), Mrs. Hafsat Abubakar Bakari, and her team for their dedication and professionalism in implementing Nigeria’s Action Plan, which led to the country’s successful delisting.
“Without their dedication and sacrifice, today’s success could not have been achieved. I thank them for their efforts and urge other stakeholders to emulate their standards,” President Tinubu said.
He also applauded the collaborative efforts of key government officials and institutions that contributed to the achievement, including the Secretary to the Government of the Federation, the National Security Adviser, several cabinet ministers, the leadership of the National Assembly, and the Judiciary.
The President further commended the active participation of the Central Bank of Nigeria, the Corporate Affairs Commission, the Defence Headquarters, the Department of State Services, the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the National Counter-Terrorism Centre, among others.
He also acknowledged the contributions of the Nigeria Customs Service, the National Drug Law Enforcement Agency (NDLEA), the National Insurance Commission (NAICOM), the Nigeria Export Processing Zones Authority (NEPZA), and the Securities and Exchange Commission (SEC) in strengthening anti-money laundering and counter-terrorism financing measures.
President Tinubu reiterated his administration’s resolve to sustain reforms that promote transparency, accountability, and international cooperation in financial governance.
