Nigeria exits FATF ‘Grey List’, major boost to increased foreign investmen, lower borrowing costs

In a significant milestone for its financial sector, Nigeria has been removed from the Financial Action Task Force (FATF) international money laundering “grey list.”

The delisting, announced on October 24, 2025, marks the successful culmination of over two years of sustained reforms by the Tinubu administration to strengthen the country’s safeguards against illicit financial flows.

Nigeria was originally placed on the list in February 2023 due to strategic deficiencies in its Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) systems. To address these gaps, a high-level interministerial committee, chaired by the Attorney General and including Finance Minister Wale Edun, orchestrated a government-wide action plan. This involved enhancing beneficial ownership transparency and fostering unprecedented collaboration between agencies like the EFCC, Central Bank, and the Nigerian Financial Intelligence Unit (NFIU).

The FATF President, Elisa de Anda Madrazo, confirmed Nigeria’s “strong political commitment,” which translated into a “stronger capacity to investigate and prosecute” financial crimes like drug trafficking and terrorist financing.

The exit from the grey list is expected to yield substantial economic benefits for Nigeria:

· Boosted Investor Confidence: The country is now viewed as a safer and more transparent destination for investment, which could increase foreign capital inflows.

· Easier Global Access: Nigerian banks and businesses will face fewer compliance hurdles and restrictions in international transactions, reducing the cost of doing business.

· Improved Creditworthiness: The enhanced governance could lead to better sovereign credit ratings, allowing Nigeria to secure international loans at more favorable terms.

Finance Minister Wale Edun expressed gratitude for the international support received during the process and reaffirmed Nigeria’s commitment to maintaining the reforms.

The NFIU’s CEO, Hafsat Abubakar Bakari, also called for sustained efforts to ensure Nigeria remains a beacon of effective financial integrity.

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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