FATF President Lauds Nigeria’s Exit from Grey List, Applauds Tinubu’s Leadership

Elisa de Anda Madrazo, President of the Financial Action Task Force (FATF), has praised Nigeria for its removal from the FATF grey list, citing the country’s robust political will and inter-agency collaboration under President Bola Tinubu’s administration. The announcement was made during the FATF plenary in Paris, where Mozambique, Burkina Faso, and South Africa were also delisted.Madrazo highlighted Nigeria’s progress over the past two years, stating, “Nigeria has shown strong political commitment, not just to exit the grey list but through tangible reforms on the ground.” She noted enhanced capabilities in investigating and prosecuting financial crimes, particularly drug trafficking and terrorist financing, as well as improved transparency in beneficial ownership and stronger supervision of non-financial sectors like real estate.“Nigeria’s government-wide policy reforms and inter-agency coordination have been exemplary,” Madrazo said, urging the country to sustain these efforts for the benefit of its citizens. She also commended the attendance of three Nigerian ministers at the plenary, showing Nigeria’s dedication to combating financial crimes.The Nigeria Interministerial Committee on Anti-Money Laundering/Countering the Financing of Terrorism/Proliferation Financing, chaired by Attorney General Lateef Fagbemi (SAN), with Ministers Wale Edun (Finance) and Olubunmi Ojo (Interior) as alternate chairs, has driven these reforms. Speaking on Nigeria’s behalf, Edun expressed gratitude to international partners, including France, Germany, the UK, the US, and the European Commission, for their support. “We remain committed to building a safer, more secure Nigeria,” he affirmed.

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