Nigeria exited the FATF grey list. Now it wants to set the rules for African fintech
- Nigeria was officially removed from the FATF grey list on October 24, 2025, after completing a 19-point action plan.
- The Nigerian Financial Intelligence Unit (NFIU) played a central role in coordinating the reforms necessary for the exit.
- Nigeria achieved Compliant or Largely Compliant status on 37 of the 40 FATF recommendations.
The successful removal of Nigeria from the FATF grey list marks a significant turning point for the country's financial sector, enhancing its global reputation and potentially attracting more foreign investment. However, the focus should now shift to maintaining these reforms and ensuring that the proposed frameworks are effectively implemented to prevent future reputational risks.
