EU Removes Nigeria From Terrorism Financing List

The European Union has removed Nigeria from its list of high-risk countries linked to money laundering and terrorism financing, a move the Federal Government says will strengthen the country’s standing in the global financial system.

The decision was announced through a European Commission Delegated Regulation amending Regulation (EU) 2016/1675. It follows Nigeria’s exit from the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring in October 2025, after the country completed its agreed Action Plan.

Reacting to the development, the Federal Government described the EU’s action as a significant step forward for Nigeria’s financial credibility and international engagement.

In a statement issued by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, attributed the progress to the leadership of President Bola Ahmed Tinubu.

Edun said the removal reflected the administration’s focus on strengthening anti-money laundering and counter-terrorism financing (AML/CFT) controls as part of broader economic and governance reforms. He noted that these efforts were driven by strong political commitment, coordinated action across government agencies and sustained cooperation with international partners.

According to the minister, reforms implemented under the Tinubu administration addressed legal, regulatory and institutional gaps that had previously raised concerns about Nigeria’s AML/CFT framework.

The European Commission, in its assessment, confirmed that Nigeria had improved the effectiveness of its AML/CFT regime and resolved key technical and strategic deficiencies, leading to its delisting from the EU’s high-risk third-country register.

Edun said the decision would reduce enhanced due-diligence requirements for Nigerian individuals, businesses and financial institutions operating with European partners. He added that it would also support stronger correspondent banking relationships, improve investor confidence and deepen Nigeria’s integration into the global financial system.

The minister commended financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory institutions, the judiciary and private sector operators for their contributions to the reform process.

He added that the government would continue to strengthen reforms and maintain close engagement with the FATF, the EU and other international partners to ensure a transparent and resilient financial system.

The Federal Government said Nigeria’s removal from both the FATF grey list and the EU’s high-risk list sends a positive signal to the international community and reflects ongoing efforts to improve financial governance under the Tinubu administration.