President Bola Tinubu has welcomed Nigeria’s delisting from the Financial Action Task Force (FATF) “grey list,” describing it as a major milestone in the nation’s economic reform journey and a renewed global vote of confidence in its financial governance.

The FATF, the world’s foremost standard-setting body for combating money laundering, terrorist financing, and proliferation financing, announced Nigeria’s removal from the list of jurisdictions under increased monitoring at its Plenary in Paris, France, on Friday.

President Tinubu said the decision marked “a major milestone in Nigeria’s journey toward economic reform, institutional integrity, and global credibility.”

Nigeria’s removal from the list follows the country’s successful and timely completion of its FATF Action Plan, the culmination of more than two years of sustained effort, reform, and inter-agency coordination aimed at strengthening the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

Placed on the grey list in February 2023, Nigeria was urged by the global community to improve enforcement, coordination, and transparency.

Rather than see the listing as a setback, Tinubu said, the country treated it as “a call to action.”

Under the President’s strategic direction, and in line with his administration’s economic transformation agenda, Nigeria implemented sweeping legal, institutional, and operational reforms.

The process was led by the Nigerian Financial Intelligence Unit (NFIU), working closely with the Attorney-General of the Federation and Minister of Justice, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Interior.

President Tinubu commended their efforts, as well as the critical support from the Secretary to the Government of the Federation, several cabinet ministers, the National Security Adviser, the leadership of the National Assembly and Judiciary, and heads of key regulatory and enforcement agencies.

He particularly praised the Director/Chief Executive Officer of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their diligence and professionalism, which he said “earned Nigeria international recognition for strengthening its capacity to combat serious financial crimes.”

“Without their dedication and sacrifice, today’s success could not have been achieved,” the President said.

“I thank them for their efforts and urge all stakeholders to emulate their standards.”

Tinubu also acknowledged the contributions of the Central Bank of Nigeria, the Corporate Affairs Commission, the Economic and Financial Crimes Commission, the Independent Corrupt Practices Commission, the Nigeria Police Force, the Nigeria Customs Service, and several other agencies represented on the National Task Force on AML/CFT.

Nigeria’s reform process, he added, benefited from strong international partnerships with the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), as well as technical assistance from France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission.

President Tinubu said Nigeria’s delisting “is not just a technical accomplishment but a strategic victory for our economy, a reaffirmation that transparency, accountability, and sound governance remain central to our national vision.”

“The exit from the FATF grey list marks the beginning of a new chapter in our financial reform agenda,” he added.

“We will sustain these institutional reforms, deepen collaboration, and continue to build a financial system that Nigerians, and the world, can trust.”