By Muhammad Mamman
Nigeria’s Ministers of Finance and Interior — Wale Edun and Olubunmi Tunji-Ojo — were in Paris this week to mark a major milestone in the country’s financial reform journey, as the Financial Action Task Force (FATF) officially removed Nigeria from its global grey list.
The delisting, announced during the FATF plenary in the French capital, signifies international recognition of Nigeria’s progress in strengthening its systems against money laundering, terrorism financing and other financial crimes.
In a symbolic moment captured in a photograph widely shared on Friday, Ministers Edun and Tunji-Ojo were seen alongside senior FATF officials shortly after the announcement — a scene many observers described as a “diplomatic victory” for Africa’s largest economy.
Mr Edun, who also serves as Coordinating Minister of the Economy, said Nigeria’s removal from the list was the result of “sustained reforms, stronger inter-agency coordination, and an unflinching political will to improve transparency and accountability.”
He added that the achievement reflects President Bola Tinubu’s broader economic renewal agenda, aimed at restoring investor confidence, deepening financial stability and aligning Nigeria with global best practices.
Interior Minister Tunji-Ojo echoed these sentiments, noting that Nigeria’s success was not merely regulatory but a testament to “collaborative governance” across multiple ministries, departments and agencies.
“The FATF decision underscores the credibility of our institutions and reaffirms that Nigeria is committed to upholding global financial integrity standards,” he said.
International observers have also welcomed the move, saying Nigeria’s delisting could enhance its attractiveness to foreign investors and financial partners, many of whom had adopted a cautious approach during the period of FATF monitoring.
Nigeria now joins South Africa, Mozambique and Burkina Faso as African nations recently removed from the FATF grey list — a development analysts see as a sign of the continent’s growing commitment to financial reforms and international compliance.
The FATF grey list comprises countries under increased monitoring due to strategic deficiencies in anti-money laundering and counter-terrorism financing frameworks. Nigeria’s exit marks the culmination of years of reform efforts led by the Central Bank of Nigeria (CBN), the Nigerian Financial Intelligence Unit (NFIU), and other key institutions.
