ABUJA — Nigeria’s Federal Government has welcomed a decision by the European Commission to remove the country from the European Union’s list of “high-risk third-country jurisdictions” for anti-money laundering and countering the financing of terrorism (AML/CFT), a move officials say will reduce compliance friction for cross-border transactions with European partners.
The delisting follows Nigeria’s removal from the Financial Action Task Force (FATF) “jurisdictions under increased monitoring” — commonly known as the grey list — after the FATF plenary of October 22–24, 2025 said Nigeria had completed its action plan to address identified deficiencies.
In a statement released Thursday night, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the EU decision was contained in a European Commission delegated regulation amending Delegated Regulation (EU) 2016/1675 and reflected an assessment that Nigeria had strengthened the effectiveness of its AML/CFT regime.
Edun attributed the outcome to President Bola Tinubu’s “political will” and reform agenda, citing improved inter-agency coordination and implementation of legal, regulatory and institutional measures required to close strategic gaps previously flagged by international assessors.
Under EU rules, entities covered by the bloc’s AML framework must apply “enhanced vigilance” in dealings with jurisdictions on the high-risk list. Removal typically reduces the intensity of enhanced due diligence applied to customers and transactions linked to that jurisdiction, easing correspondent banking checks and documentation burdens, while not eliminating routine compliance requirements.
The European Commission said it had delisted Nigeria alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania, while adding Bolivia and the British Virgin Islands to the updated register.
Nigerian officials said the development should support investor sentiment and improve the operating environment for individuals, companies and financial institutions conducting business with EU counterparties.
Edun also commended domestic stakeholders — including financial regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary and private-sector operators — and said Nigeria would continue working with the FATF, the EU and other partners to sustain reforms and align with global best practice.
