(DDM) – The Nigerian Senate has applauded President Bola Ahmed Tinubu, Senate President Godswill Akpabio, and major anti-corruption and financial regulatory agencies for their roles in securing Nigeria’s removal from the Financial Action Task Force (FATF) Grey List.
Diaspora Digital Media (DDM) gathered that the commendation followed a motion during plenary highlighting Nigeria’s significant progress in combating money laundering, terrorism financing, and other financial crimes that previously drew international concern.
The motion, sponsored by several senators, recognized the collaborative efforts of the Economic and Financial Crimes Commission (EFCC), the Central Bank of Nigeria (CBN), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU), among others, for working tirelessly to address FATF’s compliance benchmarks.
Lawmakers noted that Nigeria’s exit from the Grey List marks a major boost to investor confidence, international trade, and global financial credibility.
They emphasized that the delisting signifies a restoration of trust in Nigeria’s financial integrity and transparency standards.
Senate President Godswill Akpabio, while presiding over the session, described the development as “a clear validation of Nigeria’s reform-driven leadership under President Tinubu.”
He added that the coordinated response of the EFCC, ICPC, and NFIU demonstrated the government’s commitment to financial discipline and international cooperation.
DDM reports that Nigeria was placed on the FATF Grey List in 2021 over deficiencies in its anti-money laundering framework and failure to effectively combat terrorism financing.
The listing subjected the country to increased monitoring and hindered cross-border financial transactions.
Experts say the nation’s removal from the list will enhance foreign investment inflows, strengthen the naira’s credibility, and improve Nigeria’s access to international banking and credit facilities.
The EFCC Chairman, Ola Olukoyede, and CBN Governor, Olayemi Cardoso, have both expressed satisfaction with the recognition, describing it as proof that Nigeria’s reforms in the financial sector are working.
Meanwhile, the Senate urged all relevant agencies to sustain the momentum by deepening compliance with global anti-financial crime standards and maintaining transparent governance practices.
Nigeria’s successful exit from the FATF Grey List, observers say, underscores a new era of fiscal accountability and renewed global confidence in the country’s economic reform agenda.