Nigeria, Five African Countries Delisted from EU Financial High-Risk List
- The EU has removed Nigeria and five other African countries from its high-risk list, following successful AML/CFT reforms and delisting from the FATF grey list
- Nigeria was removed from the FATF grey list in October 2025, a development expected to boost trade, reduce transaction costs, and improve investor confidence
- The federal government expressed delight, stating that enhanced due diligence requirements for EU countries are expected to be lifted from January 29
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The European Union (EU) has removed Nigeria and five other African countries from its list of high-risk jurisdictions for money laundering and terrorism financing.
The other countries taken off the list are South Africa, Burkina Faso, Mali, Mozambique, and Tanzania. The decision follows reforms carried out by the affected countries to strengthen their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks.
Source: Getty Images
According to Business Insider Africa, the European Commission confirmed on Wednesday that the countries had addressed key weaknesses in their financial systems and now meet international standards set by the Financial Action Task Force (FATF).
Nigeria earlier removed from FATF grey list
Nigeria’s removal from the EU list comes after the FATF delisted the country from its grey list in October 2025.
FATF is an intergovernmental organisation established to develop and promote policies that protect the global financial system against money laundering, terrorist financing, and the financing of weapons of mass destruction.
Countries placed on the FATF grey list are subject to increased monitoring due to identified deficiencies in their AML/CFT regimes.
The European Commission said the reforms implemented by the countries were sufficient to justify their removal from the EU’s financial high-risk list. As a result, enhanced due diligence requirements applied to financial transactions involving these countries are expected to be lifted from January 29.
The development is expected to improve trade and payment flows, lower transaction costs, and strengthen investor confidence in the affected economies.
Reacting to the announcement on Thursday, the Minister of State for Finance, Doris Uzoka-Anite, described Nigeria’s removal from the list as a significant achievement.
She congratulated President Bola Tinubu, saying the decision would positively impact trade and investor confidence in the country.
“Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Tinubu on this achievement. As minister of state for finance, I’m proud of this boost to trade and investor confidence,” she wrote on X.
Source: Twitter
Naira appreciates after Nigeria’s removal from FATF grey list
Legit.ng earlier reported that the value of the Naira appreciated days after Nigeria was removed from the FATF grey list, a development that experts said could attract more foreign direct investment and reestablish stronger engagement between Nigeria and Western economies
The FATF’s decision to remove Nigeria from the grey list will renew global confidence in the country’s anti–money laundering and counter-terrorism financing reforms
Analysts say the FATF decision could improve Nigeria’s global financial reputation, ease cross-border transactions, and attract new investments at a time when the government is seeking to stabilise the naira and rebuild investor confidence.
Source: Legit.ng
