Nigeria intensifies efforts to exit FATF grey list by Q2 2025
Orisemeke Benjamin
Nigeria has taken a significant leap towards strengthening its financial integrity as it intensifies efforts to exit the Financial Action Task Force (FATF) grey list by the second quarter of 2025.
It is a move analysts say will bolster investor confidence and unlock new economic opportunities.
The Minister of State for Finance, Dr. Doris Uzoka-Anite, stated this today in her office in Abuja when she met with the relevant Ministries, Departments, and Agencies (MDAs) of the Federal Government to discuss the country’s efforts towards exiting the grey list.
The successful removal from the grey list will not only bolster investor confidence and unlock new economic opportunities but also demonstrate the country’s dedication to upholding international standards and promoting a safer, more transparent global financial system.
The Minister emphasized the government’s commitment to ensuring Nigeria’s removal from the grey list, saying “we are working tirelessly to address the remaining deficiencies in our AML/CFT regime, and we are confident that our efforts will yield positive results.”
Dr. Uzoka-Anite reiterated that the government has, to this end, directed all relevant agencies to take immediate and decisive action to meet the FATF’s requirements.
“We recognize the importance of exiting the grey list, not only for our national interest but also for the global community’s confidence in our financial systems. All hands must therefore be on deck to ensure the realization of these objectives,” she added.
She explained that Nigeria’s efforts to strengthen its AML/CFT regime are aimed at demonstrating the country’s dedication to upholding international standards. “We are committed to implementing the necessary reforms to safeguard Nigeria’s financial integrity and foster global confidence in our economy,” Dr. Uzoka-Anite said.
She assured that the government is committed to upholding the highest standards of transparency and cooperation in its efforts to exit the grey list.
“We are confident that our collective efforts will yield positive results and further strengthen Nigeria’s position in the global economy, in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration,” she further said.
