In a significant boost for Nigeria's international financial standing, the European Union has officially removed the country from its list of high-risk jurisdictions for money laundering and terrorism financing.
Nigeria and Five African Nations Celebrate Delisting
The European Commission confirmed the decision on Wednesday, January 16, 2026. Nigeria was delisted alongside five other African nations: South Africa, Burkina Faso, Mali, Mozambique, and Tanzania. This move follows a similar decision by the global financial watchdog, the Financial Action Task Force (FATF), which removed Nigeria from its own grey list in October 2025.
Recognition of Financial Reforms
The delisting is a direct result of extensive reforms undertaken by the Nigerian government to strengthen its Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) systems. The European Commission stated that the affected countries had successfully addressed the "strategic deficiencies" previously identified in their financial frameworks. These reforms now bring Nigeria's standards in line with international benchmarks set by the FATF.
According to the commission, the implemented changes were substantial enough to justify removal from the EU's restrictive list. This decision carries immediate practical benefits. The enhanced due diligence requirements imposed on financial transactions with Nigeria are set to be lifted from January 29, 2026.
Economic Implications and Government Reaction
The removal is expected to have a positive ripple effect on the Nigerian economy. Analysts predict it will ease the flow of international trade and payments, reduce transaction costs for businesses and individuals, and significantly boost investor confidence in the market.
Reacting to the development, Nigeria's Minister of State for Finance, Doris Uzoka-Anite, hailed the achievement as a major milestone. She took to social media platform X to celebrate, writing, "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 added, underscoring the government's view of the decision as a validation of its economic policies.
This development marks a crucial step in rehabilitating Nigeria's global financial image and is anticipated to foster a more favourable environment for foreign investment and economic growth.
