A civil-society organisation, Good Governance Team (GGT), has said Nigeria’s exit from the Financial Action Task Force (FATF) grey list demonstrates the country’s determination to strengthen its financial systems, restore global investor confidence and uphold transparency.
GGT convener Tunde Salman remarked that the development shows progress in legislative improvements, enforcement initiatives and policy alignment with international standards for combating illicit financial flows, terrorist financing and corruption.
He said the removal from the grey list opens “significant economic and diplomatic opportunities” — boosting foreign direct investment (FDI), improving access to credit and trade financing, and reducing transaction costs for domestic businesses.
However, he cautioned that sustaining the gains will require continued political will, institutional discipline and policy coherence — including transparency in beneficial ownership disclosures and effective prosecution of financial crimes.
The statement underscores the importance of maintaining reform momentum to avoid slipping back and to maximise the strategic advantage of improved international financial standing.
