The Good Governance Team (GGTNigeria) has applauded Nigeria’s Removal from the Financial Action Task Force (FATF) grey list, as a milestone for economic renewal and financial Integrity.
Mr. Tunde Salman, the Convener, GGTNigeria, in a statement the achievement was a remarkable testament to the country’s determination to strengthen its financial systems, restore international confidence, and uphold the values of transparency and accountability.
He added: “It represents a collective national effort involving government agencies, regulators, private sector, and civil society stakeholders working in unity toward a common reform goal.
“This announcement by FATF that Nigeria marks a major milestone in the country’s ongoing efforts to strengthen financial transparency, regulatory enforcement, and governance integrity.
“The development follows a comprehensive evaluation of Nigeria’s compliance with global anti-money laundering (AML) and counter-terrorist financing (CTF) standards, confirming that the nation has made substantial progress in addressing earlier identified deficiencies,” Salman said.
He noted that Nigeria’s delisting reflects the country’s strengthened institutional capacity and the success of coordinated reforms implemented across key agencies such as the Central Bank of Nigeria (CBN), the Nigerian Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), as well as advocacy efforts by act-corruption civil society organisations (CSOs).
According to him, Through legislative improvements, enforcement initiatives, and policy alignment with international standards, Nigeria has demonstrated a renewed commitment to combating illicit financial flows, terrorist financing, and corruption.
Salman that the removal from the grey list presents significant economic and diplomatic opportunities for Nigeria as it signals to the global investment community that the nation’s financial system is credible, stable, and aligned with best international practices.
He said, “This positive perception is expected to boost investor confidence, attract foreign direct investment (FDI), and facilitate smoother cross-border transactions.
“International lenders and correspondent banks that previously operated with caution will now view Nigeria as a lower-risk jurisdiction, likely improving access to credit, trade financing, and foreign exchange inflows.
“However, this achievement must not lead to complacency. Sustaining the gains from the FATF delisting requires continued political will, institutional discipline, and policy coherence.
“Nigeria must deepen reforms that promote transparency in beneficial ownership disclosures, ensure effective prosecution of financial crimes, and maintain inter-agency cooperation in monitoring high-risk sectors.
“Strengthening capacity across financial regulators, law enforcement agencies, and the judiciary will be essential to prevent future lapses.”