BREAKING: Nigeria Removed from FATF Global Money Laundering Watchlist

The Financial Action Task Force (FATF) has officially removed Nigeria from its global money laundering and terrorist financing watchlist, marking a significant milestone in the country’s financial compliance efforts.

The announcement was made at the conclusion of the FATF plenary meeting held on Friday, where the intergovernmental body acknowledged Nigeria’s substantial progress in strengthening its anti-money laundering and counter-terrorist financing (AML/CFT) frameworks.

Nigeria was among four African countries including South Africa, Mozambique, and Burkina Faso, that were delisted after meeting key strategic requirements and demonstrating improved oversight of financial systems.

According to the FATF, the countries implemented necessary reforms to enhance transparency, tighten regulatory enforcement, and prevent the misuse of financial channels for illicit purposes.

The delisting is expected to boost investor confidence, enhance Nigeria’s international reputation, and ease cross-border financial transactions with global partners.