The Federal Government of Nigeria has welcomed the European Commission’s decision 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, published this week in a European Commission Delegated Regulation amending EU Regulation 2016/1675, follows Nigeria’s removal from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring in October 2025, after successfully completing its FATF Action Plan.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, attributed the milestone to the leadership and vision of President Bola Ahmed Tinubu, GCFR, whose administration prioritized AML/CFT reforms as a central pillar of Nigeria’s economic governance and financial stability agenda.
“President Tinubu’s decisive leadership ensured strong inter-agency coordination, sustained engagement with international partners, and full implementation of critical legal, regulatory, and institutional reforms to address deficiencies in Nigeria’s AML/CFT framework,” the Minister said.
In its assessment, the European Commission concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed both technical and strategic deficiencies previously highlighted by the FATF. As a result, Nigeria has been removed from the EU’s high-risk list alongside other jurisdictions demonstrating similar progress.
The development is expected to ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions transacting with European counterparts. It is also anticipated to improve correspondent banking relationships, boost investor confidence, and further integrate Nigeria into the global financial system.
Minister Edun praised the efforts of all stakeholders, including financial regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators, for their professionalism and commitment to achieving this outcome.
He reaffirmed Nigeria’s commitment to sustaining AML/CFT reforms, emphasizing ongoing collaboration with the FATF, the European Union, and other international partners to maintain a resilient, transparent, and globally compliant financial system.
“The removal of Nigeria from both the FATF grey list and the EU high-risk list sends a clear and positive signal that Nigeria is on the path of reform, transparency, and economic renewal under President Tinubu’s leadership,” Mr. Edun added.
