The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has commended the removal of Nigeria from the Financial Action Task Force (FATF) grey list, describing it as a major achievement that underscores the country’s renewed commitment to transparency, accountability, and sound financial governance.

The FATF, a global intergovernmental body that sets standards for combating money laundering, terrorist financing, and proliferation financing, maintains two categories of countries under scrutiny — the “grey list” and the “black list.” Countries on the grey list are those found to have “strategic deficiencies” in their anti-money laundering (AML) and counter-terrorism financing (CFT) systems but are actively working to address them.

Last Friday, the FATF officially announced Nigeria’s delisting after more than two years of implementing a 19-point action plan designed to strengthen the nation’s AML/CFT framework.

Investor Confidence to Rise

Reacting to the development during an interview on Channels Television’s Morning Brief, Dr. Agama said the delisting represents a turning point for the Nigerian capital market and broader economy.

“It means so much for us in the capital market; it means so much for us in the financial system. It brings about something that we have been craving for — investor confidence,” Agama stated.

“The release of Nigeria from the FATF grey list means that investor confidence will be boosted. Delisting sends a very strong signal to investors and trading partners that Nigeria has made significant progress in strengthening its anti-money laundering and counter-terrorism financing regulations.”

He described the FATF decision as a “welcome call to new investments,” noting that it will further enhance capital inflows, stimulate productivity, and accelerate economic growth.

Reforms and Collaboration

Dr. Agama also hailed the Nigerian Financial Intelligence Unit (NFIU) under the leadership of Mrs. Hafsat Abubakar Bakari, Director/Chief Executive Officer, for its diligence in coordinating national efforts toward FATF compliance.

“This delisting is a testament to the hard work, policy reforms, and inter-agency collaboration led by the NFIU and supported by the SEC and other financial regulators,” he said. “It signals that Nigeria is ready to engage the world with renewed confidence and integrity.”

Global Credibility Restored

The SEC DG emphasized that Nigeria’s removal from the FATF grey list marks a major milestone in the nation’s economic reform journey, improving its global credibility and making it more attractive to foreign direct investment (FDI) and portfolio investors.

He added that the move aligns with President Bola Tinubu’s ongoing reforms to strengthen governance, enhance institutional transparency, and position Nigeria as a trusted financial hub in Africa.

“This is not just a regulatory victory; it’s a signal of institutional renewal and commitment to global best practices. It places Nigeria back on the radar of international investors who value compliance, transparency, and accountability,” Agama said.

Background

Nigeria was placed on the FATF grey list in 2022 after the global body identified deficiencies in its AML/CFT regime. The country subsequently developed and implemented a 19-point corrective plan, involving legal reforms, enhanced supervision of financial institutions, and inter-agency cooperation.

Following extensive evaluations and successful outcomes, the FATF concluded that Nigeria had “significantly strengthened the effectiveness of its AML/CFT framework,” leading to its delisting in October 2025.