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), describing it as a major milestone in Nigeria’s financial reform journey.
The announcement was contained in a newly issued European Commission Delegated Regulation amending Regulation (EU) 2016/1675. The development follows Nigeria’s exit from the Financial Action Task Force (FATF) grey list in October 2025, after the successful completion of its agreed FATF Action Plan.
Speaking on the achievement, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, credited the progress to the strong leadership and reform-driven agenda of President Bola Ahmed Tinubu. He noted that the administration placed AML/CFT reforms at the heart of Nigeria’s economic governance strategy to strengthen financial stability and restore global confidence.
According to the Minister, President Tinubu’s administration ensured effective coordination among government agencies, sustained engagement with international partners, and the implementation of key legal, regulatory, and institutional reforms aimed at resolving deficiencies previously identified in Nigeria’s financial system.
The European Commission, following its assessment, acknowledged that Nigeria had significantly improved the effectiveness of its AML/CFT framework and adequately addressed the technical and strategic concerns raised by the FATF. This progress qualified Nigeria for removal from the EU’s high-risk list, alongside other countries that met similar reform benchmarks.
The decision is expected to enhance Nigeria’s standing in the global financial system. Analysts say it will reduce enhanced due diligence requirements for Nigerian businesses and individuals dealing with European institutions, improve correspondent banking relationships, attract foreign investment, and support broader economic integration.
Mr. Edun also commended the collective contributions of financial regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory bodies, the judiciary, and private sector stakeholders, whose cooperation and professionalism played a critical role in achieving the reforms.
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While celebrating the milestone, the Federal Government reaffirmed its commitment to sustaining and deepening AML/CFT reforms. Nigeria will continue to work closely with the FATF, the European Union, and other international partners to ensure transparency, resilience, and full alignment with global best practices.
The removal of Nigeria from both the FATF grey list and the EU’s high-risk list sends a strong signal to the international community that the country is firmly committed to reform, accountability, and economic renewal under President Tinubu’s leadership.