EU Removes Nigeria from Financial Crime Watch List
Nigeria has achieved a major international milestone in its campaign against money laundering, terrorist financing, and proliferation financing.
This followed its removal from the European Union’s (EU) list of high-risk third countries under the EU Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
The delisting is contained in the European Commission Delegated Regulation (EU) C (2025) 8460, adopted on Dec. 4, 2025, in line with updates issued by the Financial Action Task Force (FATF) at its October 2025 Plenary.
This is contained in statement by the Chief Executive Officer(CEO), Nigerian Financial Intelligence Unit (NFIU) Hafsat Bakari, in Abuja on Friday.
She said the regulation would be effective from Jan. 29, and also confirmed the removal of Burkina Faso, Mali, Mozambique, South Africa and Tanzania from the EU high-risk list, following their successful exit from the FATF list of jurisdictions under increased monitoring.
According to her, the European Commission delisted countries, including Nigeria, had strengthened the effectiveness of their AML/CFT regimes, closed critical technical and operational gaps and fulfilled commitments under their FATF Action Plans.
Bakari said that the reforms led to their removal from the FATF grey list in June and October 2025.
According to her, Nigeria’s removal from the EU list reflects what stakeholders described as strong political will and leadership under President Bola Tinubu, whose administration, prioritised financial system integrity, inter-agency coordination and compliance with international standards.
Bakari said the achievement also followed sustained collaboration among key stakeholders, including the National Assembly, law enforcement agencies, regulators and supervisors, the judiciary, the private sector and development partners.
The CEO also described the decision as a significant affirmation of Nigeria’s reform efforts.
“This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework.
“It demonstrates that consistent reforms, effective coordination and strong national ownership can translate into tangible international outcomes,” Bakari said.
She said that Nigeria’s removal from the EU high-risk list means financial transactions between Nigeria and the EU would no longer be subject to enhanced due diligence measures associated with high-risk jurisdictions.
According to her, the development is expected to ease compliance burdens, support smoother cross-border financial flows and enhance Nigeria’s attractiveness for trade, investment and financial partnerships with EU member states.
Bakari said that in an increasingly competitive global trade environment, the delisting further strengthened Nigeria’s position as a reliable economic partner, reinforcing Europe’s role as a key destination for Nigerian exports and a major source of investments and financial services.
“Beyond the immediate economic benefits, this outcome strengthens international confidence in Nigeria’s financial system and underscores our standing as a cooperative and responsible participant in the global financial architecture.”
She said NFIU unit’s role remained coordinating national AML/CFT/CPF efforts, enhancing quality and use of financial intelligence, and supporting supervisory, investigative and prosecutorial authorities nationwide.
Bakari cautioned that the achievement placed a responsibility on all stakeholders to sustain momentum, guard against complacency and continue strengthening systems in response to evolving financial crime risks.
The CEO reiterated NFIU’s commitment to continued engagement with the FATF, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), the EU and other international partners.
She said the agency would also continue to work closely with domestic stakeholders to ensure that Nigeria not only maintained compliance but deepened the effectiveness and resilience of its AML/CFT/CPF framework.
In a separate statement, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun commended the EU for delisting the country from the high-risk third countries, as a boost to financial credibility and investor confidence.
He described it as a major vote of confidence to the country’s ongoing economic and financial reforms.
The minister said the milestone was achieved through the “extraordinary leadership, unwavering political will and clear reform vision” of President Bola Tinubu.
According to Edun, the Tinubu administration prioritised AML/CFT reforms as a core pillar of Nigeria’s economic governance and financial system stability agenda.
He said the President’s decisive leadership ensured strong inter-agency coordination, sustained engagement with international partners and the full implementation of key legal, regulatory and institutional reforms needed to address strategic deficiencies earlier identified in Nigeria’s AML/CFT framework.
The minister commended the collective efforts of stakeholders involved in achieving the milestone, including financial sector regulators, law enforcement agencies, the NFIU, supervisory authorities, the judiciary and private sector operators.
He said their professionalism, collaboration and commitment were instrumental to the successful completion of Nigeria’s FATF Action Plan and the subsequent international recognition.
Edun reiterated the country’s commitment to sustaining and deepening AML/CFT reforms. NFIU is Nigeria’s national centre for the receipt, analysis and dissemination of financial intelligence related to money laundering, terrorist financing and related offences.
It is a member of the Egmont Group of Financial Intelligence Units and works with domestic and international partners to safeguard the integrity of Nigeria’s financial system. Naira Sees Market-Wide Rally as FX Users Price in Projections
