The Nigerian Senate has applauded President Bola Ahmed Tinubu, the Nigerian Financial Intelligence Unit (NFIU), and other key agencies for their collective effort in ensuring Nigeria’s removal from the Financial Action Task Force (FATF) Grey List — a milestone hailed as a major boost to the nation’s financial credibility and global image.
The commendation followed a motion raised by Senator Emmanuel Udende under matters of urgent national importance, citing Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).
Presenting the motion, Senator Udende explained that Nigeria’s delisting signifies major progress in strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) systems. He noted that the achievement reflects Nigeria’s renewed dedication to upholding global standards of financial integrity.
Udende reminded the Senate that being on the FATF Grey List had subjected Nigeria to intense international monitoring and reputational risks, discouraging investors and limiting access to global financial markets. He credited the country’s removal to coordinated reforms carried out by the Executive, National Assembly, and various regulatory and enforcement agencies.
In its resolution, the Senate recognized the leadership of President Tinubu, the Senate President, the NFIU, EFCC, ICPC, the Central Bank of Nigeria (CBN), and other relevant bodies whose collaboration led to the country’s success.
Lawmakers expressed satisfaction that the delisting has restored investor trust and reaffirmed Nigeria’s commitment to transparency, accountability, and international compliance. They noted that the decision enhances the country’s image as a reliable destination for foreign investment and improves the efficiency of cross-border transactions for Nigerian financial institutions.
The Senate further highlighted that this progress will have long-term benefits for the economy — including increased foreign direct investment, stronger regulatory stability, a more resilient naira, and greater opportunities for job creation across sectors like energy, technology, agriculture, and manufacturing.
In adopting the motion, senators urged financial and enforcement agencies to maintain strict adherence to international standards to prevent Nigeria from returning to the grey list. The Senate Committee on Anti-Corruption and Financial Crimes was also directed to continue its oversight and policy review to strengthen the nation’s financial systems.
Nigeria was first added to the FATF Grey List in 2021 over identified weaknesses in its AML/CFT framework. Its removal was confirmed at the October 2025 FATF Plenary in Paris, following the successful completion of a 19-point action plan developed in collaboration with the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) and the FATF.