Why EU removed Nigeria from high-risk jurisdictions for money laundering – NFIU

The Nigerian Financial Intelligence Unit (NFIU) has revealed the reasons behind the removal of Nigeria from the list of high-risk jurisdictions for money laundering and terrorism financing. It specifically explained that the achievement reflected a whole-of-government and whole-of-society approach to building strong barriers to illicit finance. Daily Trust had reported that Nigeria was officially removed […]

The Nigerian Financial Intelligence Unit (NFIU) has revealed the reasons behind the removal of Nigeria from the list of high-risk jurisdictions for money laundering and terrorism financing.

It specifically explained that the achievement reflected a whole-of-government and whole-of-society approach to building strong barriers to illicit finance.

Daily Trust had reported that Nigeria was officially removed from the European Union’s list of high-risk jurisdictions for money laundering and terrorism financing.

The decision, announced by the European Commission, also delisted South Africa, Burkina Faso, Mali, Mozambique and Tanzania, while Bolivia and the British Virgin Islands were newly added to the list.

Before then, the country had earlier been successfully exited from the Financial Action Task Force (FATF) Grey List in October 2025.

Reacting to the development, Hafsat Bakari, Chief Executive Officer of the NFIU, described decisions of the FATF and the EU as proof of the credibility of Nigeria’s reforms.

“Nigeria’s exit from the FATF Grey List and the European Union’s high-risk third country list reflects the strength of our collective resolve and the effectiveness of sustained, coordinated reforms.

“This milestone underscores our commitment to upholding global standards on anti-money laundering, counter-terrorism financing and counter-proliferation financing, while reinforcing international confidence in Nigeria’s financial system.”

Ms Bakari noted that “the success we have enjoyed would not have been possible without the guidance of His Excellency President Bola Ahmed Tinubu GCFR and his commitment to building a safe and prosperous Nigeria.”