The European Union (EU) has removed Nigeria and five other African countries from its list of "high-risk third country jurisdictions" for money laundering and terrorism financing, in a move expected to ease trade and boost investment confidence.
The decision, announced on Wednesday, follows the recent delisting of these nations from the Financial Action Task Force (FATF) grey list in October 2025. The other African countries removed alongside Nigeria are South Africa, Burkina Faso, Mali, Mozambique, and Tanzania.
A Milestone for Financial Reforms
The European Commission confirmed that the countries have successfully addressed strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks, bringing them in line with international standards set by the FATF.
The delisting means enhanced due diligence requirements for financial transactions with these nations will be lifted from January 29, 2026. This is expected to reduce transaction costs, streamline trade and payment flows, and improve the perception of these economies among international investors.
Official Reaction
Nigeria's Minister of State for Finance, Doris Uzoka-Anite, hailed the development as a significant achievement for the country. “Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Tinubu on this achievement,” she wrote on social media platform X. “As minister of state for finance, I’m proud of this boost to trade and investor confidence.”
Context and Impact
Being placed on the EU's high-risk list had subjected financial institutions to stricter scrutiny when dealing with clients and transactions linked to the listed countries. Nigeria's removal marks the culmination of sustained regulatory reforms aimed at strengthening its financial governance and compliance systems.
The delisting is a positive signal to the global financial community and represents a key diplomatic and economic milestone for the Tinubu administration, potentially lowering barriers for Nigerian businesses and banks operating in Europe.
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