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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 development, contained in a recent amendment to Delegated Regulation (EU) 2016/1675, follows Nigeria’s earlier removal from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring in October 2025, after successfully completing its FATF Action Plan.
Speaking on the achievement, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the milestone was made possible by the “strong political will, visionary leadership, and unwavering commitment of President Bola Ahmed Tinubu” in prioritising AML/CFT reforms as a key pillar of Nigeria’s economic governance.
Edun noted that under President Tinubu, Nigeria strengthened inter-agency coordination, engaged consistently with international partners, and fully implemented critical legal, regulatory, and institutional reforms to address strategic deficiencies in the country’s AML/CFT framework.
“The European Commission’s assessment confirms that Nigeria has significantly enhanced the effectiveness of its AML/CFT regime, satisfactorily addressing both technical and strategic gaps identified by the FATF,” Edun said.
The Finance Minister added that the removal from the EU high-risk list would ease enhanced due diligence requirements for Nigerian individuals, businesses, and financial institutions transacting with European counterparts. It is also expected to strengthen correspondent banking relationships, boost investor confidence, and further integrate Nigeria into the global financial system.
Edun commended the collective efforts of financial regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector operators, whose dedication contributed to the successful reform outcomes.
He reaffirmed Nigeria’s commitment to sustaining AML/CFT reforms, promising continued collaboration with the FATF, the European Union, and other international partners to ensure the country’s financial system remains resilient, transparent, and aligned with global best practices.
“The removal of Nigeria from both the FATF grey list and the EU high-risk list demonstrates that the country is on a clear path of reform, transparency, and economic renewal under President Tinubu,” Edun said.
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