On October 25, 2025, Nigerian governors and the Central Bank of Nigeria (CBN) celebrated the country’s removal from the Financial Action Task Force (FATF) grey list, calling it a testament to President Bola Tinubu’s financial discipline and integrity.
The Nigeria Governors’ Forum (NGF), through spokesman Yunusa Abdullahi, credited the achievement to years of rigorous scrutiny of Nigeria’s financial systems, bolstered by Tinubu’s diplomatic push, alongside efforts from the CBN, Federal Ministry of Finance, Economic and Financial Crimes Commission, and Nigeria Financial Intelligence Unit (NFIU).
Placed on the grey list in 2023 for weak anti-money laundering and terrorism financing measures, Nigeria made strides through legislative reforms, a beneficial ownership register, and stronger inter-agency coordination. The governors praised enhanced intelligence and law enforcement capabilities, vowing to uphold transparency and ethical standards. CBN Governor Olayemi Cardoso called the move a “strong affirmation” of Nigeria’s reform path, predicting lower compliance costs, better access to global finance, and smoother cross-border transactions for businesses and households.
The CBN emphasized sustained collaboration to maintain a transparent financial system, fostering stability, trade, remittances, and inclusive growth. The FATF’s decision signals restored global trust in Nigeria’s economic management.
