REFLECTIONS ON THE REMOVAL OF NIGERIA FROM THE FINANCIAL ACTION TASK FORCE (FATF) “GREY LIST”: A BOOST FOR INVESTOR CONFIDENCE

The Financial Action Task Force (“FATF”) is the global authority that combats illicit financial activities. It is an inter-governmental policy-making body that sets international standards to prevent money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.

Nigeria’s recent removal from the Financial Action Task Force (FATF) “grey list” (Jurisdictions under Increased Monitoring) since its inclusion in February 2023 is a defining moment for the nation’s financial system and global credibility. After a period of heightened international scrutiny, this delisting is a formal acknowledgement of Nigeria’s substantial progress in strengthening its Anti-Money
Laundering (“AML”) and Countering the Financing of Terrorism (“CFT”) frameworks.

This success is not merely a technical achievement but a robust, institutional commitment to
global financial transparency.

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