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EU removes Nigeria from high-risk financial list

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In January 2026, the European Union (EU) officially removed Nigeria from its list of high-risk third-country jurisdictions for money laundering and terrorism financing.

According to a statement by the Nigeria Financial Intelligence Unit (NFIU), the regulation, contained in the European Commission Delegated Regulation (EU) C (2025) 8460, adopted on December 4, 2025, is in line with updates by the Financial Action Task Force (FATF) from its October 2025 Plenary. The development, which takes effect from January 29, 2026, also confirmed the removal of Burkina Faso, Mali, Mozambique, South Africa, and Tanzania from the list, following their successful exit from the FATF list of Jurisdictions under Increased Monitoring after addressing identified strategic AML/CFT deficiencies.

“The European Commission acknowledged that Nigeria and the other delisted countries have strengthened the effectiveness of their AML/CFT regimes, closed key technical and operational gaps, and fulfilled the commitments set out in their FATF Action Plans, leading to their removal from the FATF grey list in June and October 2025. “Nigeria’s removal from the EU list reflects the strong political will and leadership of President Bola Ahmed Tinubu, GCFR, whose administration prioritised financial system integrity, inter-agency coordination, and compliance with international standards.

“The achievement is also the result of sustained collaboration among key stakeholders, including the National Assembly, law enforcement agencies, regulators, supervisors, the judiciary, the private sector, and development partners”, the statement read in part.

Reacting to the development, the Chief Executive Officer of the NFIU, Hafsat Bakari, described the decision as a significant affirmation of Nigeria’s collective reform efforts. The Nigerian Financial Intelligence Unit (NFIU) is Nigeria’s national centre for the receipt, analysis, and dissemination of financial intelligence related to money laundering, terrorist financing, and related predicate offences.

The NFIU is a member of the Egmont Group of Financial Intelligence Units and works closely with domestic and international partners to safeguard the integrity of Nigeria’s financial system.

 “This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework. It demonstrates that consistent reforms, effective coordination, and strong national ownership can translate into tangible international outcomes,” the CEO said.

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