By: Jabiru Hassan.

The Centre for Anti-Corruption and Open Leadership (CACOL) has commended the Federal Government of Nigeria for the remarkable achievement of getting the country delisted from the Financial Action Task Force (FATF) grey list.

In a release issued and signed by Tola Oresanwo the organization’s Director of Administration and Programmes on behalf of the Chairman of the organization, Mr. Debo Adeniran, he stated that “This milestone marks a significant step in restoring confidence in Nigeria’s financial system and strengthening its global economic reputation.

”It would be recalled that Nigeria was placed on the FATF grey list in 2023 due to identified deficiencies in combating money laundering, terrorist financing, and other financial crimes.

Countries are typically placed on this list when their anti-money laundering and counter-terrorist financing (AML/CFT) frameworks are considered inadequate, or when enforcement mechanisms are weak.

The CACOL boss acknowledges the concerted efforts of the current administration in mobilizing relevant institutions such as the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), and other agencies to work collaboratively.

The improved coordination, implementation of corrective measures, and strengthening of regulatory oversight were instrumental in achieving this positive outcome.

However, CACOL cautions the government to sustain this momentum by maintaining financial transparency, fiscal discipline, and sound economic governance.

Any regression or laxity in oversight could jeopardize this hard-won credibility and risk Nigeria’s return to the grey list. To ensure long-term stability and prevent future sanctions, CACOL recommends that the Federal Government: Institutionalize inter-agency collaboration to continuously monitor and address financial crime risks.

Strengthen compliance mechanisms across the financial sector through regular audits, capacity building, and public accountability.

Promote transparency in both public and private financial transactions, ensuring that anti-corruption measures are enforced without political interference.

This achievement should serve as a reminder that sustained reforms, integrity, and vigilance are indispensable to Nigeria’s economic progress and international reputation.