The UK High Commissioner to Nigeria, Richard Montgomery, has commended Nigeria’s removal from the FATF grey list, attributing the success to reforms introduced by President Bola Tinubu’s administration.
The British High Commissioner to Nigeria, Richard Montgomery, has hailed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as a major achievement reflecting the success of the Tinubu administration’s financial reforms.
In a post on X, Montgomery wrote, “Brilliant news that the Financial Action Task Force @FATFNews has de-listed Nigeria from the ‘grey list’. Reflects strong efforts to implement reforms by @NigeriaGov and opens up new opportunities for trade and investment.”
The FATF, a global watchdog against money laundering and terrorist financing, placed Nigeria on its grey list in 2023 due to identified deficiencies in its financial systems. Nigeria was officially delisted at the FATF Plenary in Paris after completing its two-year Action Plan involving institutional reforms and inter-agency collaboration.
President Bola Tinubu welcomed the development, calling it “a strategic victory for the country’s economy.” He said, “The exit from the FATF grey list marks the beginning of a new chapter in our financial reform agenda.”
Tinubu commended the Nigerian Financial Intelligence Unit (NFIU) and other agencies for their dedication, saying their efforts had earned Nigeria international recognition for strengthening its anti-money laundering and counter-terrorism financing systems.