The Senate has commended President Bola Tinubu, the Nigerian Financial Intelligence Unit (NFIU), and other key institutions for their roles in ensuring Nigeria’s removal from the Financial Action Task Force (FATF) Grey List.
The commendation came on Tuesday following a motion of urgent public importance sponsored by Senator Emmanuel Udende (Benue), in line with Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).
The Senate described the delisting as a major victory for Nigeria’s financial integrity and global reputation.
While moving the motion, Senator Udende said Nigeria’s removal from the FATF Grey List was an indication of the country’s “remarkable progress in addressing strategic deficiencies in its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Framework.”
He added that the move also demonstrated “Nigeria’s strong commitment to global financial integrity standards.”
Udende noted that Nigeria’s previous inclusion on the FATF Grey List had exposed the country to “heightened international monitoring, scrutiny, and reputational risks,” which negatively impacted investor confidence and access to global financial markets.
He attributed the recent achievement to “the successful implementation of extensive reforms and policy measures by the Executive Arm of Government, the National Assembly, and several regulatory and enforcement agencies.”
After debating the motion, the Senate passed resolutions recognising “the invaluable leadership and contributions of President Tinubu, the President of the Senate, the NFIU, the Economic and Financial Crimes Commission (EFCC) among others.”
Contributing to the motion, several senators expressed delight that the delisting has boosted investor confidence and reassured the international community of Nigeria’s renewed commitment to transparency, accountability, and adherence to global financial standards.
The lawmakers also mandated the Senate Committee on Anti-Corruption and Financial Crimes to sustain legislative oversight and policy reviews to further strengthen Nigeria’s financial governance framework.
Nigeria was first placed on the FATF Grey List in 2021 due to concerns about weaknesses in its anti-money laundering and counter-terrorism financing systems.
The country’s removal from the list was officially announced at the FATF October 2025 Plenary in Paris, France.
According to the News Agency of Nigeria (NAN), countries on the FATF Grey List are considered to have deficiencies in preventing money laundering, terrorist financing, and proliferation financing.
