FATF delists Nigeria from global financial watchlist
Nigeria has been removed from the Financial Action Task Force’s (FATF) “grey” list of nations with weak anti-money laundering and counter-terrorist financing systems.
At the conclusion of a plenary session on Friday, FATF disclosed this information.
Four African countries were taken off the list, including South Africa, Mozambique, and Burkina Faso.
The global finance watchdog said the countries’ governments stepped up efforts to combat money laundering and terrorist financing.
The decision reportedly followed Nigeria’s successful and timely completion of its FATF Action Plan, marking over two years of sustained effort, reform and inter-agency coordination aimed at strengthening the country’s Anti-Money Laundering and Counter-Financing of Terrorism, AML/CFT, framework.
Meanwhile, President Bola Tinubu described the development as a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.
