The Federal Government of Nigeria has welcomed the decision of the European Commission 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 the development as a major boost to Nigeria’s global financial credibility.
The decision was conveyed in a European Commission Delegated Regulation issued this week amending Delegated Regulation (EU) 2016/1675. It 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.
Reacting to the announcement, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stressed the milestone was the result of strong political leadership and sustained reforms under President Bola Ahmed Tinubu, GCFR.
“This achievement was only possible due to the extraordinary leadership, unwavering political will and clear reform vision of President Bola Ahmed Tinubu, Under his administration, AML/CFT reforms were prioritised as a core component of economic governance and financial system stability,’’ Edun said.
He explained that the President’s approach ensured effective coordination across government institutions and consistent engagement with international partners.
“President Tinubu’s decisive leadership drove strong inter-agency collaboration and 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 minister stated.
According to the European Commission, Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed the technical and strategic gaps highlighted by the FATF, leading to its removal from the EU’s high-risk list alongside other jurisdictions that demonstrated similar progress.
The development is expected to reduce enhanced due diligence requirements for Nigerian individuals, businesses and financial institutions engaging with European counterparts, while improving correspondent banking relationships and boosting investor confidence.
“This decision sends a clear and positive signal to global investors and financial institutions that Nigeria is committed to transparency, reform and international best practices, It will further support Nigeria’s integration into the global financial system,’’ Edun said.
The minister also commended the efforts of regulators and institutions involved in the reform process.
“We acknowledge the professionalism and dedication of our financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary and private sector operators, whose collective efforts made this outcome possible,” he said.
While welcoming the decision, Edun reaffirmed the government’s commitment to sustaining the reforms already achieved.
“Nigeria remains firmly committed to sustaining and deepening AML/CFT reforms,” he said. “We will continue to work closely with the FATF, the European Union and other international partners to ensure our financial system remains resilient, transparent and aligned with global best practices.”
He added that Nigeria’s removal from both the FATF grey list and the EU high-risk list underscores the country’s reform trajectory.
“These developments confirm that Nigeria is firmly on the path of reform, transparency and economic renewal,” the minister said.