The European Union has officially removed Nigeria from its list of high-risk jurisdictions for money laundering and terrorism financing, a move expected to ease cross-border transactions and strengthen investor confidence.
The update, published on the European Commission’s website, follows Nigeria’s removal from the Financial Action Task Force (FATF) greylist in 2025, after implementing comprehensive anti-money laundering and counter-terrorism financing reforms. Under the new decision, enhanced due diligence requirements for Nigerian transactions within the EU will be lifted from January 29, 2026, pending approval by the European Parliament and the Council of the European Union.
The European Commission noted that several countries were delisted during the 2025 FATF plenaries, including Burkina Faso, Mali, Mozambique, Nigeria, South Africa, and Tanzania, while Bolivia and the British Virgin Islands were newly added. Removal from the high-risk list means Nigerian businesses, banks, fintechs, and exporters will no longer face heightened compliance scrutiny when dealing with EU partners.
Minister of State for Finance, Dr Doris Uzoka-Anite, hailed the development as a major win for Nigeria, stating, “Big win for Nigeria! Removed from the EU’s financial high-risk list. Congrats to President @officialABAT on this achievement. This is a boost to trade and investor confidence.”
Coordinating Minister of the Economy and Finance Minister Wale Edun emphasized the significance of the delisting at the NESG 2026 Macroeconomic Outlook presentation in Lagos. He said, “Exiting the EU high-risk list is a landmark achievement for Nigeria. It sends a clear signal to investors that Nigeria is serious about maintaining a stable, credible, and transparent business environment.”
Being classified as high-risk previously exposed Nigeria to higher transaction costs, delayed payments, tighter banking relationships, and reduced foreign investment. The removal is expected to improve trade flows, streamline remittances, and support capital inflows, reinforcing Nigeria’s credibility in global financial markets.
Nigeria was delisted alongside South Africa, Burkina Faso, and Mozambique, all of which strengthened their financial regulatory frameworks. The country had been added to the FATF greylist in February 2023.
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