The federal government has directed all relevant agencies to take “immediate and decisive steps” to meet the requirements set by the Financial Action Task Force (FATF) as part of efforts to remove Nigeria from the grey list.
The Minister of State for Finance, Dr. Doris Uzoka-Anite, issued this directive on Friday during a meeting in Abuja with key Ministries, Departments, and Agencies (MDAs) responsible for strengthening Nigeria’s financial integrity.
Some of the agencies present at the meeting include the NFIU, EFCC, Immigration and others.
“We recognize the importance of exiting the grey list, not only for our national interest but also for the global community’s confidence in our financial systems,” she said.
“All hands must therefore be on deck to ensure the realization of these objectives.”
She said that the government is committed to addressing deficiencies in Nigeria’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework.
According to her, the target is to exit the FATF grey list by the second quarter of 2025, a move expected to boost investor confidence and create new economic opportunities.
“We are working tirelessly to address the remaining deficiencies in our AML/CFT regime, and we are confident that our efforts will yield positive results,” the Minister assured.
Dr. Uzoka-Anite further stressed that Nigeria’s commitment to international financial standards is unwavering.
“We are committed to implementing the necessary reforms to safeguard Nigeria’s financial integrity and foster global confidence in our economy,” she stated.
The Minister also assured of the government’s stance on transparency and cooperation in the ongoing reforms.
“We are confident that our collective efforts will yield positive results and further strengthen Nigeria’s position in the global economy, in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration.”
The FATF grey list includes countries under increased monitoring due to concerns about their AML/CFT measures. Exiting the list requires significant regulatory and institutional reforms to align with international best practices.
