{"id":7008,"date":"2026-01-16T11:10:10","date_gmt":"2026-01-16T11:10:10","guid":{"rendered":"https:\/\/ograsset.com\/?p=7008"},"modified":"2026-01-16T11:10:10","modified_gmt":"2026-01-16T11:10:10","slug":"eu-removes-nigeria-from-financial-crime-high-risk-list","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/01\/16\/eu-removes-nigeria-from-financial-crime-high-risk-list\/","title":{"rendered":"EU removes Nigeria from financial crime high-risk list"},"content":{"rendered":"\n
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EU removes Nigeria from financial crime high-risk list<\/h1>\n\n\n\n

The European Union has officially removed Nigeria from its list of high-risk jurisdictions for money laundering and terrorism financing, a decision expected to ease cross-border transactions and improve investor confidence.<\/p>\n\n\n\n

The update was published on the European Commission\u2019s website and follows Nigeria\u2019s removal from the Financial Action Task Force greylist in 2025, following a series of anti-money laundering and counter-terrorism financing reforms.<\/p>\n\n\n\n

Under the new decision, enhanced due diligence requirements applied to transactions involving Nigeria will be lifted from January 29, 2026, subject to procedural approval by the European Parliament and the Council of the European Union.<\/p>\n\n\n\n

Explaining the move, the European Commission said the update reflects decisions taken by the FATF at its June and October 2025 plenaries, where several countries were removed from the list of jurisdictions under increased monitoring.<\/p>\n\n\n\n

\u201cThe EU has added new third-country jurisdictions to the list (Bolivia and the British Virgin Islands) and delisted a number of others (Burkina Faso, Mali, Mozambique, Nigeria, South Africa and Tanzania),\u201d the Commission stated.<\/p>\n\n\n\n

It noted that entities covered by the EU\u2019s anti-money laundering framework are required to apply enhanced vigilance when dealing with countries on the high-risk list, adding that Nigeria\u2019s removal means such heightened scrutiny will no longer apply to Nigerian-related transactions within the bloc once the regulation takes effect.<\/p>\n\n\n\n

Reacting to the development, the Minister of State for Finance, Dr Doris Uzoka-Anite, described the decision as a major boost for the country.<\/p>\n\n\n\n

In a post on X on Thursday, she said, \u201cBig win for Nigeria! Removed from the EU\u2019s financial \u2018high-risk\u2019.\u201d She added, \u201cCongrats to President @officialABAT on this achievement. As Minister of State for Finance, I\u2019m proud of this boost to trade and investor confidence.\u201d Also commenting on it, the Coordinating Minister of the Economy and Minister of Finance, Mr Wale Edun, said Nigeria\u2019s exit from the European Union\u2019s high-risk third-country list is a major boost for investor confidence.<\/p>\n\n\n\n

Speaking in Lagos on Thursday at the NESG 2026 Macroeconomic Outlook Presentation, Edun said, \u201cExiting the EU high-risk list is a landmark achievement for Nigeria. It sends a clear signal to investors that Nigeria is serious about maintaining a stable, credible, and transparent business environment.\u201d<\/p>\n\n\n\n

Nigeria\u2019s exit from the EU high-risk list is expected to have significant economic and financial implications. Countries classified as high-risk often face higher transaction costs, delayed payments, tighter correspondent banking relationships, and reduced foreign investment.<\/p>\n\n\n\n

With the lifting of enhanced due diligence requirements, Nigerian banks, exporters, fintechs, and other businesses transacting with European partners are expected to face fewer compliance hurdles, a development that could improve trade flows, ease remittances, and support capital inflows.<\/p>\n\n\n\n

The decision also reinforces Nigeria\u2019s credibility as it seeks to reform its financial system and curb illicit financial flows, at a time when the government is pushing to attract foreign investment and deepen integration into global financial markets.<\/p>\n\n\n\n

Nigeria was removed from the FATF greylist in October last year after implementing reforms to strengthen its anti-money laundering and counter-terrorism financing framework.<\/p>\n\n\n\n

The country was delisted alongside South Africa, Burkina Faso, and Mozambique, all of which had stepped up efforts to combat money laundering and terrorist financing.<\/p>\n\n\n\n

South Africa and Nigeria were added to the FATF greylist in February 2023, Mozambique in October 2022, while Burkina Faso was first designated in February 2021.<\/p>\n\n\n\n

Source:<\/em> https:\/\/punchng.com\/eu-removes-nigeria-from-financial-crime-high-risk-list\/<\/em><\/a><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

EU removes Nigeria from financial crime high-risk list The European Union has officially removed Nigeria from its list of high-risk jurisdictions for money laundering and terrorism financing, a decision expected to ease cross-border transactions and improve investor confidence. The update was published on the European Commission\u2019s website and follows Nigeria\u2019s removal from the Financial Action… <\/p>\n

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