Nigeria’s removal from the Financial Action Task Force (FATF) grey list has been hailed by the Infrastructure Concession Regulatory Commission (ICRC) as a major milestone that will boost investor confidence, strengthen the country’s financial credibility and accelerate access to over $2.3 trillion in infrastructure financing opportunities.
The FATF grey list identifies countries with deficiencies in anti–money laundering and financial transparency systems. Nigeria’s exit, therefore, signals improved financial governance and reduced investment risk, a development that reassures global investors of the country’s renewed commitment to international best practices.
Reacting to the development, the Director-General of the ICRC, Jobson Oseodion Ewalefoh, said the achievement reflects Nigeria’s growing economic stability and the far-reaching reforms under the administration of President Bola Ahmed Tinubu.
He commended the collaborative efforts of key institutions, including the Nigerian Financial Intelligence Unit (NFIU), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and the Ministries of Finance and Justice –for strengthening compliance frameworks that made the delisting possible.
