By Danjuma Amodu | January 19, 2026
The Nigerian Financial Intelligence Unit (NFIU) has welcomed the country’s removal from the Financial Action Task Force (FATF) Grey List and the European Union’s plan to drop Nigeria from its high‑risk third‑country register, describing it as a “major boost to confidence in the nation’s financial system.” In a statement released on Sunday, NFIU Chief Executive Officer, Hafsat Abubakar Bakari said the twin decisions “reflect the strength of our collective resolve and the effectiveness of sustained, coordinated reforms,” and thanked government agencies, private‑sector players, and civil‑society organisations for their role in achieving this milestone.
Bakari credited President Bola Ahmed Tinubu’s administration for providing the political backing that underpinned the reforms. She highlighted the work of the Inter‑Ministerial Committee on AML/CFT/CPF, led by the Attorney‑General of the Federation and involving the Ministries of Finance, Interior, and State for Finance—in ensuring policy coherence. She also noted contributions from the Ministries of Aviation, Budget and Economic Planning, Defence, Industry, Trade and Investment, and Solid Minerals Development, as well as from national security agencies, financial regulators (CBN, SEC, NAICOM, EFCC’s SCUML), and law‑enforcement bodies (Nigeria Police, EFCC, ICPC, DSS, DIA, NDLEA, Code of Conduct Bureau).
On corporate transparency, the Corporate Affairs Commission, Nigeria Export Processing Zones Authority, and Oil and Gas Free Zones Authority were praised for aligning beneficial‑ownership systems with international best practice. Border and port agencies—Customs, Immigration, FAAN, and NCAA—were recognised for curbing cash smuggling and illicit high‑value movements, while the non‑profit sector’s safeguards were strengthened through SCUML and its partners.
Bakari stressed that the achievement is a “clear signal that our reforms are deep, credible and sustainable,” and that the NFIU will continue to deepen cooperation and intelligence‑led supervision ahead of Nigeria’s next mutual evaluation. “This success belongs to Nigeria and its partners,” she said, adding that the country’s financial‑system integrity and international reputation have taken a significant step forward.
