In a significant stride against financial crimes, Nigeria has been officially removed from the European Union’s list of high-risk third countries under the EU Anti-Money Laundering and Countering the Financing of Terrorism framework. This pivotal development, announced by the Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, signifies a turning point in the nation’s fight against money laundering and terrorist financing.
The confirmation came through an official statement detailing the European Commission Delegated Regulation (EU) C (2025) 8460, which was adopted on December 4, 2025. The regulation, effective from January 29, 2026, follows the outcomes of the Financial Action Task Force (FATF) Plenary held in October 2025.
Nigeria was delisted alongside Burkina Faso, Mali, Mozambique, South Africa, and Tanzania, all of which successfully addressed strategic deficiencies in their anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks. Their exit from the FATF list of jurisdictions under increased monitoring underscores a collective commitment to enhancing financial integrity.
The European Commission lauded the months of reform, stating that Nigeria and its counterparts have notably strengthened the effectiveness of their AML, CFT, and counter-proliferation financing regimes. By closing critical technical and operational gaps and fulfilling the commitments set out in their respective FATF Action Plans, these nations were able to secure their removal from the FATF grey list earlier this year.
This milestone has been described as a robust endorsement of Nigeria’s reform trajectory and its political commitment to upholding the integrity of its financial systems. President Bola Ahmed Tinubu’s administration has been instrumental in this achievement, prioritizing compliance with international standards and fostering strengthened inter-agency coordination and institutional accountability within the financial and security sectors.
In her remarks, NFIU CEO Hafsat Abubakar Bakari emphasized the significance of the EU’s decision: “This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML, CFT, and CPF framework. It demonstrates that consistent reforms, effective coordination, and strong national ownership can translate into tangible international outcomes.”
The development is seen as a testament to the sustained collaboration among key stakeholders, including the National Assembly, law enforcement agencies, regulatory bodies, the judiciary, the private sector, and development partners. As Nigeria paves the way for a more secure financial landscape, this latest achievement reflects a collective commitment to safeguarding the nation’s economic future.
With Nigeria no longer classified as a high-risk jurisdiction by the European Union, financial transactions between Nigeria and EU Member States will no longer be subject to the enhanced due diligence requirements typically applied to high-risk countries. This is expected to ease compliance burdens for financial institutions, support smoother cross-border financial flows and significantly enhance Nigeria’s appeal for trade, investment and financial partnerships within the European market.
Speaking on the broader implications of the achievement, the NFIU CEO emphasised that the benefits extend beyond immediate economic gains. “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.
Bakari also highlighted the central role played by the NFIU in coordinating national AML, CFT and CPF efforts, improving the quality and use of financial intelligence, and supporting supervisory, investigative and prosecutorial authorities across the country.
She stressed that the milestone comes with renewed responsibility for all stakeholders. “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.
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