Nigeria no longer on the FATF list. Will the second time be the final time?
- Nigeria has been removed from the FATF grey list, which is a significant milestone for the country's financial integrity.
- The FATF confirmed Nigeria's removal during its plenary meeting on October 24, 2025, alongside South Africa, Burkina Faso, and Mozambique.
- Nigeria was previously added to the grey list in February 2023 due to gaps in beneficial-ownership transparency and ineffective law enforcement.
While Nigeria's removal from the FATF grey list is a commendable achievement, it is essential for the country to maintain its reforms and ensure compliance with international standards. The fintech sector must leverage this opportunity to innovate and expand, but they should also prepare for increased competition and scrutiny from international partners. Continuous improvement in compliance will be vital to prevent any future setbacks.
