January 16, (THEWILL) — The Federal Government has welcomed the decision of the European Commission to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).
The decision, contained in a European Commission Delegated Regulation released this week, follows Nigeria’s earlier removal from the Financial Action Task Force (FATF) “grey list” in October 2025.
Commenting on the development on Thursday, January 15, 2026, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the achievement was made possible by the leadership and political will of President Bola Ahmed Tinubu.
He noted that the President prioritized AML/CFT reforms as a key part of Nigeria’s economic governance and financial system stability agenda.
Edun explained that the President’s leadership ensured effective inter-agency collaboration, sustained engagement with international partners, and the implementation of critical legal and regulatory reforms to address previous deficiencies.
The European Commission’s assessment concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed the technical and strategic shortcomings highlighted by the FATF.
The delisting is expected to ease enhanced due diligence requirements for Nigerian individuals and businesses dealing with European partners.
This will improve correspondent banking relationships, boost investor confidence, and further integrate Nigeria into the global financial system. I
n a statement signed by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, Edun commended the efforts of the Nigerian Financial Intelligence Unit (NFIU), law enforcement agencies, and the judiciary for their professionalism.
The Minister reaffirmed Nigeria’s commitment to sustaining these reforms, noting that the country would continue working closely with the FATF and the European Union to ensure a resilient and transparent financial system.
The removal from both high-risk lists sends a strong signal to the global community that Nigeria is firmly on the path of reform and economic renewal
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