The Federal Government has welcomed the European Commission’s decision to erase Nigeria from the European Union’s list of high-risk third countries under its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
The decision was contained in a newly released European Commission Delegated Regulation, which amends Delegated Regulation (EU) 2016/1675. It follows Nigeria’s removal from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring in October 2025, after the country successfully completed its FATF Action Plan.
Reacting to the development, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described the milestone as a direct outcome of the leadership, political commitment, and reform-focused agenda of President Bola Ahmed Tinubu.
According to Edun, the Tinubu administration made AML/CFT reforms a central pillar of Nigeria’s economic governance and financial system stability strategy, driving strong inter-agency collaboration, sustained engagement with international partners, and the implementation of far-reaching legal, regulatory, and institutional reforms.
“The decisive leadership of Mr. President ensured that Nigeria addressed the strategic deficiencies previously identified in its AML/CFT framework,” the minister said.
In its assessment, the European Commission concluded that Nigeria has made substantial progress in strengthening the effectiveness of its AML/CFT regime and has satisfactorily resolved the technical and strategic gaps highlighted by the FATF.
Consequently, Nigeria was removed from the EU’s list of high-risk third countries, alongside other jurisdictions that have demonstrated similar levels of improvement. The development marks a significant boost to Nigeria’s standing in the global financial system.
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Analysts say the delisting is expected to reduce enhanced due-diligence requirements for Nigerian individuals, businesses, and financial institutions dealing with European partners, improve correspondent banking relationships, boost investor confidence, and deepen Nigeria’s integration into the global economy.
Edun commended the contributions of key stakeholders, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary, and private sector participants, noting that their professionalism and commitment were critical to the success of the reforms.
While welcoming the EU’s decision, the minister reaffirmed Nigeria’s resolve to sustain and deepen AML/CFT reforms.
He said the country would continue working closely with the FATF, the European Union, and other international partners to ensure that Nigeria’s financial system remains transparent, resilient, and aligned with global best practices.
Nigeria’s removal from both the FATF grey list and the EU’s high-risk list, Edun added, sends a strong signal to the international community that the country is firmly committed to reform, transparency, and economic renewal under President Tinubu’s leadership.
