The Federal Government has welcomed the European Commission’s decision to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism.

The decision is contained in a European Commission Delegated Regulation released this week, amending Delegated Regulation 2016/1675.

A statement issued via X on Thursday by the Federal Ministry of Finance’s Director of Information and Public Relations, Mohammed Manga, recalls that the milestone follows Nigeria’s earlier removal from the Financial Action Task Force list of Jurisdictions under Increased Monitoring in October 2025, after the successful completion of its FATF Action Plan.

Reacting to the development, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the delisting was made possible through the “leadership and clear reform vision” of President Bola Ahmed Tinubu.

“President Tinubu’s decisive leadership ensured strong inter-agency coordination, sustained engagement with international partners, and the full implementation of critical legal, regulatory, and institutional reforms required to address the strategic deficiencies previously identified in Nigeria’s AML/CFT framework,” the statement read.

Explaining the rationale and implications of the removal, the statement said, “The European Commission, in its assessment, concluded that Nigeria has significantly strengthened the effectiveness of its AML/CFT regime and satisfactorily addressed the technical and strategic deficiencies highlighted by the FATF.

“As a result, Nigeria has been removed from the EU list of high-risk third countries, alongside other jurisdictions that have demonstrated similar progress.”

The Federal Government said the development was expected to boost Nigeria’s global financial credibility by easing enhanced due diligence requirements for Nigerian individuals, businesses and financial institutions dealing with European counterparts.

It added that the decision would also “improve correspondent banking relationships, enhance investor confidence, and further integrate Nigeria into the international financial system.”

Edun commended the contributions of stakeholders involved in the reform process, including financial sector regulators, law enforcement agencies, the Nigerian Financial Intelligence Unit, supervisory authorities, the judiciary and private sector operators.

While welcoming the decision, the minister reaffirmed Nigeria’s commitment to sustaining and deepening AML/CFT reforms, noting that the country would continue to work closely with the FATF, the European Union and other international partners.

PUCNH Online reports that being on the EU’s high-risk list previously meant that transactions with European partners required enhanced due diligence, stricter documentation, and additional oversight.

The ministry said Nigeria’s removal from both the FATF grey list and the EU’s high-risk list sends a positive signal to the global community that the country is on a path of reform, transparency and economic renewal.