Nigeria’s Path to FATF Compliance: Overcoming Grey List Challenges in 2025 - Webinar Recordings (March 2025)
As of February 21, 2025, Nigeria remains on the Financial Action Task Force's (FATF) list of jurisdictions under increased monitoring, commonly referred to as the "grey list." This status indicates that while Nigeria is actively working to address strategic deficiencies in its anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks, it has not yet fully met FATF's standards.
The Nigerian government has set a target to exit the FATF grey list by the second quarter of 2025. To achieve this, authorities are focusing on enhancing transparency in beneficial ownership, strengthening legal and institutional infrastructures to combat financial crimes, and improving supervision of financial institutions.
Recent FATF assessments suggest that Nigeria is on track to complete its action plan before the May 2025 deadline. The FATF has expressed confidence that, if progress continues at the current pace, Nigeria could be removed from the grey list before the end of 2025.
Exiting the grey list is crucial for Nigeria, as it would enhance investor confidence and open up new economic opportunities by demonstrating the country's commitment to international financial standards.
For a more in-depth understanding of Nigeria's efforts and challenges in achieving FATF compliance, you can watch this webinar and listen to our expert speakers provide insights into the steps Nigeria is taking to address FATF's concerns and improve its financial integrity.