The Nigerian Financial Intelligence Unit (NFIU) has welcomed the European Union’s decision to remove Nigeria from its list of “high-risk third country jurisdictions” for money laundering and terrorism financing.
Gatekeepers News reports that the delisting, effective from January 29, 2026, also applies to South Africa, Burkina Faso, Mali, Mozambique, and Tanzania. It follows these countries’ successful exit from the Financial Action Task Force (FATF) grey list after implementing reforms to strengthen their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks.
Nigeria was formally delisted from the FATF grey list in October 2025, after addressing deficiencies in its AML/CFT regimes. The EU’s decision was codified in the European Commission Delegated Regulation, adopted on December 4, 2025.
Reacting to the development on Thursday, NFIU Chief Executive Officer Hafsat Abubakar Bakari described the EU’s move as a strong endorsement of Nigeria’s reform efforts.
“This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework,” Bakari said.
“It demonstrates that consistent reforms, effective coordination and strong national ownership can translate into tangible international outcomes.”
The statement highlighted that Nigeria’s removal from the EU list reflects the political will and leadership of President Bola Tinubu, as well as collaboration among stakeholders including the National Assembly, law enforcement agencies, regulators, the judiciary, the private sector, and development partners.
Bakari noted that the delisting will relieve financial transactions between Nigeria and the EU from enhanced due diligence requirements typically imposed on high-risk jurisdictions. She added that it 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.
“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.
The NFIU boss further stressed that the agency will continue to coordinate national AML/CFT/CPF efforts, enhance the use of financial intelligence, and support investigative and prosecutorial authorities nationwide.
“While we welcome this progress, it also places a clear responsibility on all stakeholders to sustain momentum, guard against complacency and continue strengthening our systems in response to evolving financial crime risks,” Bakari said.
The NFIU reaffirmed its commitment to ongoing engagement with the FATF, GIABA, the EU, and other international partners to maintain compliance and deepen the resilience of Nigeria’s financial crime prevention frameworks.
