The Federal Government of Nigeria has clarified that the country’s removal from the European Union’s list of high-risk jurisdictions for anti-money laundering (AML) and countering the financing of terrorism (CFT) will significantly ease compliance requirements for financial transactions between Nigerian entities and EU member states.

In a statement issued by the Nigerian Financial Intelligence Unit (NFIU) on Friday, the government explained that Nigerian individuals, businesses, and financial institutions will no longer be subjected to the enhanced due diligence measures typically applied to high-risk countries. This, in turn, is expected to facilitate smoother cross-border financial flows, boost trade, and attract investment from European partners.

“This is expected to ease compliance burdens, support smoother cross-border financial flows, and enhance Nigeria’s attractiveness for trade, investment and financial partnerships with EU Member States,” the NFIU said.

The delisting, according to the NFIU, comes at a critical time in the global economic landscape and is anticipated to strengthen Nigeria’s standing as a reliable economic partner for European markets.

“In an increasingly competitive global trade environment, the delisting further strengthens Nigeria’s positioning as a reliable economic partner, reinforcing Europe’s role as a key destination for Nigerian exports and a source of investment and financial services,” the statement added.

NFIU CEO Hafsat Abubakar Bakari hailed the EU decision as a strong endorsement of Nigeria’s reforms in the financial and regulatory sectors.

“Beyond the immediate economic benefits, this outcome strengthens international confidence in Nigeria’s financial system and underscores our standing as a cooperative and responsible participant in the global financial architecture,” she said.

Bakari emphasized that the NFIU has been central in coordinating national AML/CFT efforts and improving financial intelligence for supervisory, investigative, and prosecutorial authorities. She noted that while this is a major achievement, it also requires sustained vigilance to address evolving financial crime risks.

The NFIU confirmed that it will continue to work with the Financial Action Task Force (FATF), the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), the EU, and domestic partners to maintain and strengthen Nigeria’s AML/CFT framework.

The EU and European Commission acknowledged that Nigeria, along with other delisted countries, has effectively strengthened its AML/CFT systems, addressed technical and operational gaps, and met the commitments outlined in their FATF Action Plans, which led to the country’s removal from the FATF grey list in June and October 2025.

The NFIU credited the delisting to the political will and leadership of President Bola Ahmed Tinubu, as well as the collaboration of the National Assembly, law enforcement agencies, regulators, judiciary, private sector, and development partners.

“This decision represents an important external validation of Nigeria’s steady progress in strengthening its AML/CFT/CPF framework. It demonstrates that consistent reforms, effective coordination, and strong national ownership can translate into tangible international outcomes,” Bakari said.

Nigeria’s delisting signals enhanced global trust in the country’s financial system, opening doors for improved trade, investment, and financial partnerships with European nations.