The Federal Government has welcomed the decision of the European Commission to remove Nigeria 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, contained in a European Commission Delegated Regulation released this week amending Delegated Regulation (EU) 2016/1675, follows Nigeria’s removal from the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring in October 2025, after the country successfully completed its FATF Action Plan.
In a statement issued on Thursday night, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, described the development as a major milestone made possible by the “extraordinary leadership, unwavering political will, and clear reform vision” of President Bola Tinubu.
According to Edun, the Tinubu administration prioritised AML/CFT reforms as a core pillar of Nigeria’s economic governance and financial system stability agenda, ensuring strong inter-agency coordination and sustained engagement with international partners.
He said the President’s decisive leadership enabled the full implementation of critical legal, regulatory, and institutional reforms required to address the strategic deficiencies previously identified in Nigeria’s AML/CFT framework.
The European Commission, in its assessment, concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed both technical and strategic deficiencies highlighted by the FATF. Consequently, Nigeria was removed from the EU list of high-risk third countries, alongside other jurisdictions that demonstrated similar progress.
Edun noted that Nigeria’s removal from the list represents a significant boost to the country’s global financial standing. He said it is expected to ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions transacting with European partners, improve correspondent banking relationships, and enhance investor confidence.
The minister commended the collective efforts of key stakeholders involved in achieving the milestone, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators.
Their professionalism and commitment, he said, were instrumental in delivering the reforms that led to Nigeria’s delisting.
While welcoming the decision, Edun reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT reforms, stressing that the country would continue to work closely with the FATF, the European Union, and other international partners.
“The removal of Nigeria from both the FATF grey list and the EU high-risk list sends a clear and positive signal to the global community that Nigeria is firmly on the path of reform, transparency, and economic renewal,” he said.
