The Federal Government has explained that Nigeria’s removal from the European Union’s list of high-risk jurisdictions for anti-money laundering and countering the financing of terrorism will lead to the easing of compliance requirements on financial transactions between Nigeria and EU member states.
This development will create a more favourable environment for trade, investment and cross-border financial flows.
In a statement issued on Friday by the Nigerian Financial Intelligence Unit (NFIU), the government explained that transactions involving Nigerian individuals, businesses and financial institutions will no longer be subjected to the enhanced due diligence measures typically applied to high-risk countries.
According to the NFIU, “This is expected to ease compliance burdens, support smoother cross-border financial flows, and enhance Nigeria’s attractiveness for trade, investment and financial partnerships with EU Member States.”
The agency said the delisting comes at a critical time in the global economic landscape and is expected to strengthen Nigeria’s standing as a dependable economic partner for European markets.
“In an increasingly competitive global trade environment, the delisting further strengthens Nigeria’s positioning as a reliable economic partner, reinforcing Europe’s role as a key destination for Nigerian exports and a source of investment and financial services,” the statement said.
Reacting to the development, the Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, described the decision as a strong endorsement of the country’s reform efforts across the financial and regulatory landscape.
“Beyond the immediate economic benefits, this outcome strengthens international confidence in Nigeria’s financial system and underscores our standing as a cooperative and responsible participant in the global financial architecture,” Bakari said.
She explained that the NFIU has played a central role in coordinating national anti-money laundering, counter-terrorist financing and counter-proliferation financing efforts, while also improving the quality and use of financial intelligence to support supervisory, investigative and prosecutorial authorities nationwide.
“This achievement is the product of collective national effort. While we welcome this progress, it also places a clear responsibility on all stakeholders to sustain momentum, guard against complacency and continue strengthening our systems in response to evolving financial crime risks,” she said.
The NFIU said it will continue to engage with the Financial Action Task Force, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), the European Union and other international partners, while working closely with domestic stakeholders to ensure that Nigeria not only maintains compliance but also improves the strength and resilience of its AML/CFT/CPF framework.
“This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework. It demonstrates that consistent reforms, effective coordination and strong national ownership can translate into tangible international outcomes,” Bakari said.
The European Commission, in its own assessment, acknowledged that Nigeria and other countries removed from the list had strengthened the effectiveness of their AML/CFT regimes, closed major technical and operational gaps and fulfilled the commitments set out in their FATF Action Plans, which led to their earlier removal from the FATF grey list in June and October 2025.
The NFIU in the statement said Nigeria’s delisting reflects the political will and leadership of President Bola Ahmed Tinubu, whose administration prioritised financial system integrity, inter-agency coordination and compliance with international standards.
It also credited the outcome to sustained collaboration among the National Assembly, law enforcement agencies, regulators, supervisors, the judiciary, the private sector and development partners.
The NFIU, Nigeria’s national centre for the receipt, analysis and dissemination of financial intelligence related to money laundering, terrorist financing and related offences, said it will continue to work with both domestic and international partners to safeguard the integrity of the country’s financial system.
