NFIU Hails EU Delisting of Nigeria from High-Risk Countries; Cites “External Validation” of Reforms
The Nigerian Financial Intelligence Unit (NFIU) has officially welcomed the decision by the European Union (EU) to remove Nigeria from its list of high-risk third countries, describing it as a landmark victory for the nation’s financial system integrity.
The Chief Executive Officer of the NFIU, Hafsat Abubakar Bakari, hailed the development as a significant affirmation of Nigeria’s collective reform efforts. “This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework,” Bakari stated. “It demonstrates that consistent reforms, effective coordination, and strong national ownership can translate into tangible international outcomes.”
The official removal is contained in the European Commission Delegated Regulation (EU) C (2025) 8460, adopted on December 4, 2025. The regulation, which formally takes effect on January 29, 2026, follows Nigeria’s successful exit from the Financial Action Task Force (FATF) “grey list” after addressing strategic deficiencies in its anti-money laundering and counter-terrorism financing regimes.
Economic Relief and Trade Benefits
The most immediate impact of the delisting is the removal of Enhanced Due Diligence (EDD) requirements for financial transactions between Nigeria and the European Union. Previously, being on the high-risk list meant that every transaction underwent rigorous and often time-consuming scrutiny by European banks.
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With the new regulation, the compliance burden on Nigerian businesses and financial institutions will be significantly eased. The NFIU expects this to:
* Support Smoother Cross-Border Flows: Facilitate faster and more cost-effective international wire transfers and trade payments.
* Enhance Investment Attractiveness: Strengthen Nigeria’s positioning as a reliable economic partner for European investors.
* Boost Global Competitiveness: Reinforce Europe’s role as a key destination for Nigerian exports.
Political Will and Multi-Agency Collaboration
The European Commission acknowledged that Nigeria has closed key technical and operational gaps in its financial monitoring systems. The NFIU attributed this success to the “strong political will and leadership” of President Bola Ahmed Tinubu, noting that the achievement was the result of sustained collaboration between the National Assembly, law enforcement agencies, the judiciary, and the private sector.
Bakari highlighted that the NFIU played a central role in coordinating these national efforts and enhancing the quality of financial intelligence used by investigative and prosecutorial authorities across the country.
The Road Ahead: Guarding Against Complacency
Despite the milestone, the NFIU cautioned that the delisting brings an added responsibility to maintain global standards. Nigeria’s removal from the list occurred alongside other African nations, including South Africa, Tanzania, Burkina Faso, Mali, and Mozambique.
“While we welcome this progress, it also places a clear responsibility on all stakeholders to sustain momentum and guard against complacency,” Bakari added. The NFIU reaffirmed its commitment to continuous engagement with international partners like the Egmont Group and GIABA to ensure the long-term resilience of Nigeria’s financial architecture.
