NFIU hails removal of Nigeria from EU's high-risk money laundering list

The Nigerian Financial Intelligence Unit (NFIU) has welcomed Nigeria’s removal from the European Union’s list of high-risk countries for money laundering and terrorist financing, hailing it as a major boost for the country’s financial credibility.

The development, announced by the NFIU in an Abuja press release on January 15, 2025, is formalized in an EU Delegated Regulation adopted on December 4, 2025.

This follows Nigeria’s earlier exit from the Financial Action Task Force’s (FATF) “grey list” in 2025 after implementing comprehensive legal, regulatory, and operational reforms.

The EU regulation, effective January 29, 2026, also delists Burkina Faso, Mali, Mozambique, South Africa, and Tanzania, citing that these nations have successfully addressed strategic deficiencies in their anti-money laundering and counter-terrorist financing (AML/CFT) systems.

NFIU Chief Executive Officer Hafsat Abubakar Bakari stated that the EU’s decision serves as a crucial external validation of Nigeria’s progress.

She explained that removal from the high-risk list will eliminate enhanced due diligence requirements for transactions with EU financial institutions, thereby easing compliance costs, facilitating trade, and improving investment flows.

Bakari warned against complacency, stressing that sustaining these gains requires continued vigilance against evolving financial crime risks.

She reaffirmed the NFIU’s commitment to coordinating national AML/CFT efforts and collaborating with international bodies and domestic stakeholders to protect Nigeria’s financial system.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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