The Nigerian Financial Intelligence Unit (NFIU) has described Nigeria’s removal from the Financial Action Task Force (FATF) Grey List and the European Union’s plan to delist the country from its register of high-risk third countries as a significant boost to confidence in the nation’s financial system.
Gatekeepers News reports that in a statement issued yesterday in Abuja, NFIU Chief Executive Officer, Hafsat Bakari, said the development underscored the credibility and depth of Nigeria’s reforms in combating illicit financial flows, noting that the achievement reflected a coordinated, whole-of-society effort.
“Nigeria’s exit from the FATF Grey List and the EU’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms. This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system,” Bakari said.
She commended government institutions, the private sector and civil society organisations for their contributions, attributing the success to a “whole-of-government and whole-of-society approach” to strengthening safeguards against financial crimes.
Bakari added that the reforms were sustained under the leadership of President Bola Tinubu, whose administration, she said, provided the political backing required to drive reforms across critical sectors of the economy.
According to the NFIU, strategic oversight of the reform process was provided by the Inter-Ministerial Committee on AML/CFT/CPF, led by the Attorney-General of the Federation and Minister of Justice, alongside the Minister of Finance and Coordinating Minister for the Economy, the Minister of Interior, and the Minister of State for Finance. The committee ensured policy coherence and maintained momentum throughout the reform implementation.
Meanwhile, on the heels of the positive development, the Federal Ministry of Marine and Blue Economy and Abu Dhabi Ports Group signed a landmark Memorandum of Understanding (MoU) aimed at strengthening cooperation in ports development, maritime logistics and digital transformation.
The agreement, signed on the sidelines of the Abu Dhabi Sustainability Week (ADSW), marks a major milestone in Nigeria–United Arab Emirates economic relations. Minister of Marine and Blue Economy, Adegboyega Oyetola, led the Nigerian delegation, while H.E. Mohamed Hassan, Chairman of Abu Dhabi Ports Group, represented the company. The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, was also present.
According to a statement by Osagie Edward, Deputy Director and Head of Public Relations at NIMASA, the MoU “forms part of broader trade and investment engagements between the Federal Republic of Nigeria and the United Arab Emirates.”
Following the signing, the delegation briefed President Tinubu on the strategic importance of the partnership, which is expected to stimulate growth in Nigeria’s maritime and blue economy sectors.
Separately, Senator Gbenga Daniel (Ogun East) said Nigeria was gradually recovering from the economic hardship triggered by fuel subsidy removal and naira devaluation.
Speaking at the Annual Family Thanksgiving at Abraham Tabernacle, Sagamu, Ogun State, Daniel praised Tinubu for what he described as bold economic reforms, including subsidy removal, naira flotation and efforts to address insecurity.
He expressed concern over the tendency of Nigerians to label politicians as liars and thieves, particularly during election periods, stressing that not all public office holders were corrupt. Daniel noted that some politicians still upheld the ideals of the late Premier of the old Western Region, Chief Obafemi Awolowo.
