By Chimezie Godfrey
Nigeria has been officially removed from the European Union’s list of high-risk countries for money laundering and terrorist financing, a move seen as a boost to the country’s financial credibility.
The development was disclosed in a press release issued in Abuja by the Nigerian Financial Intelligence Unit (NFIU) on January 15, 2025.
The EU decision is contained in Delegated Regulation (EU) C (2025) 8460, adopted on December 4, 2025, following the Financial Action Task Force (FATF) October 2025 Plenary outcomes.
The regulation, which becomes effective on January 29, 2026, also delists Burkina Faso, Mali, Mozambique, South Africa and Tanzania from the EU high-risk category.
The European Commission said the affected countries successfully addressed strategic deficiencies in their AML/CFT systems and exited the FATF list of jurisdictions under increased monitoring.
Nigeria’s delisting follows its removal from the FATF grey list in 2025 after implementing wide-ranging legal, regulatory and operational reforms.
Stakeholders attribute the success to political commitment under President Bola Ahmed Tinubu, GCFR, and collaboration among the National Assembly, law enforcement agencies, regulators, the judiciary and the private sector.
Reacting to the development, NFIU Chief Executive Officer Hafsat Abubakar Bakari said the EU decision validates Nigeria’s reform efforts.
“This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework,” Bakari said.
She explained that Nigeria’s removal from the EU high-risk list would eliminate enhanced due diligence requirements for transactions involving EU financial institutions.
According to her, this will ease compliance costs, facilitate trade and improve investment flows between Nigeria and European countries.
Bakari noted that, “Beyond the immediate economic benefits, this outcome strengthens international confidence in Nigeria’s financial system.”
She stressed that the NFIU will continue to coordinate national AML/CFT efforts while supporting investigative and prosecutorial agencies.
The NFIU CEO warned against complacency, adding that sustaining the gains requires continued vigilance against evolving financial crime risks.
She reaffirmed the agency’s commitment to working with FATF, GIABA, the EU and domestic stakeholders to protect Nigeria’s financial system.