The Nigeria Extractive Industries Transparency Initiative (NEITI) has lauded Nigeria’s anti-corruption and financial integrity institutions for the country’s removal from the Financial Action Task Force (FATF) grey list — a global list of countries under increased monitoring for financial crimes.
In a statement issued from NEITI House, Orji Ogbonnaya Orji, executive secretary, described the delisting as “a strong vote of confidence in Nigeria’s reforms to combat corruption, improve financial transparency, and strengthen accountability systems across all sectors of the economy.”
Orji noted that the milestone followed demonstrable improvements in Nigeria’s Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) framework, enhanced regulatory oversight, and sustained collaboration among key national institutions.
He highlighted the value of NEITI’s Memoranda of Understanding with the EFCC, NFIU, and ICPC, describing them as effective platforms for data sharing to track money laundering and illicit financial flows.
Commending the efforts of the 24-member Inter-Agency Task Team (IATT) chaired by NEITI and supported by the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR), Orji said strong political will and a policy of non-interference by the federal government were pivotal to the achievement.
He also praised the media and civil society for their “vigilance, advocacy, and naming-and-shaming efforts” which, he said, enhanced public accountability and deterrence.
Orji outlined the far-reaching implications of Nigeria’s removal from the FATF Grey List, noting that it would: Boost international credibility and investor confidence, Lower the cost of financial transactions and improve access to global capital and Enhance the business environment and economic growth prospects.
NEITI noted that beyond financial markets, the FATF delisting underscores the strengthening of Nigeria’s institutional reforms and the growing effectiveness of key regulatory and anti-corruption agencies, including the BPP, CCB, CBN, and the Federal Ministry of Justice, in collaboration with law enforcement bodies, development partners, and diplomatic missions.
Orji stressed that improved financial system integrity provides a stronger foundation for extractive-sector governance, revenue tracking, and anti-corruption reforms.
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He urged that the momentum be sustained through continued reforms in beneficial ownership disclosure and open contracting, stronger oversight of extractive revenue flows; and deeper collaboration with global transparency institutions.
“The FATF delisting is not just a regulatory success—it is a governance success. It strengthens Nigeria’s standing in the international transparency community and reinforces NEITI’s work to ensure openness, accountability, and integrity in the extractive industry,” Orji affirmed.
He reiterated NEITI’s commitment to work closely with anti-corruption agencies and development partners to consolidate the gains, prevent policy reversals, and ensure Nigeria never returns to the grey list.
