CBN Pledges Financial System Strengthening as Nigeria Exits FATF Grey List
The Central Bank of Nigeria (CBN) has vowed to consolidate recent financial system reforms to enhance compliance, innovation, and trust following Nigeria's removal from the FATF grey list. This move comes after a successful evaluation of Nigeria's anti-money laundering and counter-terrorist financing framework, involving key agencies like CBN, EFCC, and GIABA.
Nigeria's exit from the grey list is expected to reduce compliance costs, improve access to international finance, and boost confidence in its financial system. The country's improved global standing has also been recognized by credit rating agencies like Moody's and Fitch, along with the IMF's positive assessment during the 2025 Article IV consultation.
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