*Says Tinubu’s reforms delivered global trust boost
By Luminous Jannamike, ABUJA
Nigeria has been officially removed from the European Union’s list of high-risk third countries for money laundering, terrorist financing and proliferation financing, a decision that eases enhanced scrutiny on financial transactions between Nigeria and EU member states.
The decision is contained in European Commission Delegated Regulation (EU) C (2025) 8460, adopted on 4 December 2025 and effective from 29 January 2026, in line with updates by the Financial Action Task Force (FATF) at its October 2025 Plenary.
The development was announced on Friday in a statement by Hafsat Abubakar Bakari, Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU).
The regulation also confirms the removal of Burkina Faso, Mali, Mozambique, South Africa and Tanzania from the EU high-risk list following their exit from the FATF list of Jurisdictions under Increased Monitoring after addressing identified strategic AML/CFT deficiencies.
The European Commission said Nigeria and the other delisted countries strengthened the effectiveness of their AML/CFT regimes, closed key technical and operational gaps and fulfilled commitments under their FATF Action Plans, leading to their removal from the FATF grey list in June and October 2025.
Nigeria’s removal reflects reforms carried out under President Bola Ahmed Tinubu, GCFR, whose administration prioritised financial system integrity, inter-agency coordination and alignment with international standards.
The process involved collaboration among the National Assembly, law enforcement agencies, regulators, supervisors, the judiciary, the private sector and development partners.
Reacting to the decision, Bakari said the delisting validated 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,” she said.
With Nigeria no longer classified as high-risk by the EU, transactions involving Nigerian and EU entities will no longer be subject to enhanced due diligence requirements.
The NFIU said this is expected to reduce compliance burdens, support cross-border financial flows and improve Nigeria’s attractiveness for trade and investment.
Bakari said the impact goes beyond compliance relief.
“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.
“This achievement is the product of collective national effort. While we welcome this progress, it also places a clear responsibility on all stakeholders to sustain momentum, guard against complacency and continue strengthening our systems in response to evolving financial crime risks,” she added.
The NFIU reaffirmed its commitment to continued engagement with the FATF, GIABA, the European Union and other international partners, and to working with domestic stakeholders to sustain compliance and strengthen Nigeria’s AML/CFT/CPF framework.
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