By Nana Musa
Nigeria has achieved a major international milestone in its campaign against
money laundering, terrorist financing and proliferation financing.
This followed its removal from the European Union’s (EU) list of high-risk third
countries under the EU Anti-Money Laundering and Countering the Financing of
Terrorism (AML/CFT) framework.
The delisting is contained in the European Commission Delegated Regulation (EU)
C (2025) 8460, adopted on Dec. 4, 2025, in line with updates issued by the
Financial Action Task Force (FATF) at its October 2025 Plenary.
This is contained in statement by the Chief Executive Officer (CEO), Nigerian
Financial Intelligence Unit (NFIU) Hafsat Bakari, in Abuja on Friday.
She said the regulation would be effective from Jan. 29, and also confirmed the
removal of Burkina Faso, Mali, Mozambique, South Africa and Tanzania from the
EU high-risk list, following their successful exit from the FATF list of jurisdictions
under increased monitoring.
According to her, the European Commission delisted countries, including Nigeria,
had strengthened the effectiveness of their AML/CFT regimes, closed critical
technical and operational gaps and fulfilled commitments under their FATF Action
Plans.
Bakari said that the reforms led to their removal from the FATF grey list in June
and October 2025.
According to her, Nigeria’s removal from the EU list reflects what stakeholders
described as strong political will and leadership under President Bola Tinubu,
whose administration prioritised financial system integrity, inter-agency
coordination and compliance with international standards.
Bakari said the achievement also followed sustained collaboration among key
stakeholders, including the National Assembly, law enforcement agencies,
regulators and supervisors, the judiciary, the private sector and development
partners.
The CEO also described the decision as a significant affirmation of Nigeria’s
reform efforts.
“This decision represents an important external validation of Nigeria’s steady
progress in strengthening its AML/CFT/CPF framework.
“It demonstrates that consistent reforms, effective coordination and strong national
ownership can translate into tangible international outcomes,” Bakari said.
She said that Nigeria’s removal from the EU high-risk list means financial
transactions between Nigeria and the EU would no longer be subject to enhanced
due diligence measures associated with high-risk jurisdictions.
According to her, the development is expected to ease compliance burdens, support
smoother cross-border financial flows and enhance Nigeria’s attractiveness for
trade, investment and financial partnerships with EU member states.
Bakari said that in an increasingly competitive global trade environment, the
delisting further strengthened Nigeria’s position as a reliable economic partner,
reinforcing Europe’s role as a key destination for Nigerian exports and a major
source of investments and financial services.
“Beyond the immediate economic benefits, this outcome strengthens international
confidence in Nigeria’s financial system and underscores our standing as a
cooperative and responsible participant in the global financial architecture.”
She said NFIU unit’s role remained coordinating national AML/CFT/CPF efforts,
enhancing quality and use of financial intelligence, and supporting supervisory,
investigative and prosecutorial authorities nationwide.
Bakari cautioned that the achievement placed a responsibility on all stakeholders to
sustain momentum, guard against complacency and continue strengthening
systems in response to evolving financial crime risks.
The CEO reiterated NFIU’s commitment to continued engagement with the FATF,
the Inter-Governmental Action Group against Money Laundering in West Africa
(GIABA), the EU and other international partners.
She said the agency would also continue to work closely with domestic
stakeholders to ensure that Nigeria not only maintained compliance but
deepened the effectiveness and resilience of its AML/CFT/CPF framework.
In a separate statement, the Minister of Finance and Coordinating Minister of the
Economy, Mr Wale Edun commended the EU for delisting the country from the
high-risk third countries, as a boost to financial credibility and investor confidence.
He described it as a major vote of confidence to the country’s ongoing economic
and financial reforms.
