The Federal Government has expressed satisfaction over the European Commission’s decision to remove Nigeria from the European Union’s list of high-risk third countries under Anti-Money Laundering and Countering the Financing of Terrorism framework.
The development follows Nigeria’s successful exit from the Financial Action Task Force monitoring list after the completion of required action plans aimed at strengthening its financial and regulatory systems. The decision reflects growing international confidence in Nigeria’s reforms to improve transparency, accountability, and financial system integrity.
According to the government, the achievement is a result of sustained political commitment and coordinated reforms prioritised under the current administration. These reforms focused on addressing long-standing deficiencies through improved inter-agency collaboration, stronger legal and regulatory frameworks, and enhanced institutional capacity across the financial and security sectors.
The European Commission acknowledged that Nigeria has made significant progress in strengthening the effectiveness of its anti-money laundering and counter-terrorism financing regime, successfully resolving previously identified technical and strategic weaknesses.
The government noted that Nigeria’s removal from the high-risk list is expected to reduce stringent due diligence requirements for Nigerian individuals, businesses, and financial institutions engaging with European partners. This is also expected to strengthen correspondent banking relationships, boost investor confidence, and improve Nigeria’s overall standing within the global financial system.
The Federal Government commended the efforts of financial regulators, law enforcement agencies, intelligence units, the judiciary, and private sector stakeholders whose collective commitment contributed to the success of the reforms.
While welcoming the decision, the government reaffirmed its commitment to sustaining and deepening ongoing reforms to ensure continued compliance with international standards. It stressed that Nigeria will remain engaged with global partners to maintain a resilient, transparent, and credible financial system.
The removal from both international monitoring and high-risk listings sends a strong signal that Nigeria is firmly advancing on a path of reform, transparency, and economic renewal.
