Nigeria Achieves Major Milestone As FATF Delists Country From Global Watchlist
By TOSI ORE
NIGERIA has been officially removed from the Financial Action Task Force (FATF) global money laundering and terrorist financing watchlist — a development widely regarded as a major boost to the country’s financial credibility and international standing.
The announcement came at the conclusion of the FATF plenary meeting on Friday, where the intergovernmental watchdog commended Nigeria for its substantial progress in strengthening anti-money laundering and counter-terrorist financing (AML/CFT) measures.
Nigeria was one of four African nations — alongside South Africa, Mozambique, and Burkina Faso — delisted after demonstrating improved regulatory compliance, transparency, and oversight within their financial systems.
According to the FATF, the affected countries implemented key reforms to close loopholes in their financial sectors, improve enforcement mechanisms, and ensure greater accountability in financial transactions.
Analysts say the delisting will bolster investor confidence, ease cross-border banking and trade operations, and enhance Nigeria’s global financial reputation, particularly among international partners and development institutions.
This marks a significant policy achievement for the federal government, which has worked closely with the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) and other international partners to align Nigeria’s financial regulations with global standards.
