The United Kingdom’s High Commissioner to Nigeria, Richard Montgomery, has commended the country’s removal from the Financial Action Task Force (FATF) “grey list.”
In a post on social media platform X, Montgomery described the development as “brilliant news.” He attributed the success to the economic reforms implemented by the administration of President Bola Tinubu.
The FATF, a global watchdog for combating illicit financial flows, had placed Nigeria on its grey list in 2023. This listing indicated that the country had strategic shortcomings in its systems to prevent money laundering and terrorist financing.
After two years of concerted effort, Nigeria has now been officially delisted. This decision was announced at the FATF’s October 2025 Plenary in Paris. The country’s removal follows the successful completion of a rigorous action plan to strengthen its financial regulations.
The coordinated effort was led by the Nigerian Financial Intelligence Unit (NFIU) in collaboration with several key ministries and agencies.
President Tinubu welcomed the news, stating that his administration treated the original grey-listing as a “call to action.” He described the delisting as a “strategic victory” for Nigeria’s economy and reaffirmed his government’s commitment to transparency and sound governance.
“The exit from the FATF grey list marks the beginning of a new chapter in our financial reform agenda,” the President said, pledging to sustain the institutional reforms.
He also commended the NFIU team led by Hafsat Abubakar Bakari, as well as other agencies including the Central Bank of Nigeria and the Economic and Financial Crimes Commission (EFCC), for their role in achieving this international recognition.
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