President Tinubu Welcomes Nigeria’s Removal from FATF Grey List

President Bola Ahmed Tinubu has welcomed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, hailing the decision as a major milestone for the nation’s economy and global credibility.

The delisting, which was announced at the FATF Plenary in Paris, France, formally removes Nigeria from the list of jurisdictions under increased monitoring. President Tinubu described the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.”

The announcement was confirmed in a Statehouse statement signed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy on Friday.

The decision followed Nigeria’s successful and timely completion of its FATF Action Plan, marking over two years of sustained effort and reform to strengthen the country’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

Rather than treat the 2023 listing as a setback, Nigeria viewed it as a call to action. Under President Tinubu’s leadership, the country implemented far-reaching legal, institutional and operational reforms.

The President commended the Director of the Nigerian Financial Intelligence Unit (NFIU), Ms Hafsat Abubakar Bakari, and the staff for their diligence, stating: “Without their dedication and sacrifice, today’s success could not have been achieved.”

According to President Tinubu, Nigeria’s removal is “not just a technical accomplishment, it is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.” He affirmed that the exit “marks the beginning of a new chapter,” pledging that Nigeria will sustain the institutionalised reforms and “continue to build a financial system that Nigerians and the world can trust.”