Tinubu lauds Nigeria’s delisting from FATF grey list

President Bola Tinubu has lauded Nigeria’s delisting from the Financial Action Task Force (FATF) grey list.

A statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the FATF announced the delisting at its plenary in Paris, the capital of France, on Friday, October 24, 2025.

The announcement formally removed Nigeria from the list of jurisdictions under increased monitoring, commonly referred to as the “grey list”.

The FATF is the world’s foremost standard-setting body for combating money laundering, terrorist financing, and proliferation financing.

Onanuga quoted Tinubu as saying that Nigeria’s removal from the FATF grey list “is not just a technical accomplishment, it is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.”

“The exit from the FATF grey list marks the beginning of a new chapter in the nation’s financial reform agenda as Nigeria will sustain the already institutionalised reforms, deepen institutional collaboration and continue to build a financial system that Nigerians and the world can trust,” the president stated.

President Tinubu described the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.”

Tinubu sacks Service Chiefs, elevates Gen Oluyede as Chief of Defence Staff

Onanuga, however, noted that the decision to remove Nigeria from the list follows the nation’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.

He added: “In February 2023, the FATF placed Nigeria on the grey list. The message from the global community was clear: the nation needed more vigorous enforcement, better coordination, and greater transparency. Rather than treat this as a setback, Nigeria viewed it as a call to action.

“Under President Tinubu’s strategic leadership and in line with the economic transformation agenda of his administration, Nigeria implemented far-reaching legal, institutional, and operational reforms.

“This was achieved through the coordination of the Nigerian Financial Intelligence Unit (NFIU), working in conjunction with the Attorney-General of the Federation and Minister of Justice, the Minister of Finance, and the Coordinating Minister of the Economy and the Minister of Interior.”

The presidential spokesman quoted Tinubu as saying: “Without their dedication and sacrifice, today’s success could not have been achieved. I thank them for their efforts and urged other stakeholders to emulate their standards.”

Tinubu also acknowledged the support of international partners, the Governments of France, Germany, the United Kingdom, the United States, the United Nations and the European Commission, “for their steadfast technical assistance during Nigeria’s reform process.”

The Star