The European Union (EU) has officially removed Nigeria along with five other African nations from its list of “high‑risk third country jurisdictions” for money laundering and terrorism financing, a move expected to ease financial transaction barriers and bolster investor confidence.
The affected countries, Nigeria, South Africa, Burkina Faso, Mali, Mozambique, and Tanzania were delisted following their earlier exit from the Financial Action Task Force (FATF) grey list, reflecting successful reforms to strengthen anti‑money‑laundering and counter‑terrorism financing frameworks.
Under EU rules, jurisdictions deemed high‑risk face enhanced due diligence requirements, which can slow cross‑border trade and complicate financial flows. With the removal set to take effect from January 29, 2026, transactions involving these countries will no longer require the heightened scrutiny associated with the high‑risk designation, potentially lowering compliance costs and accelerating international payments.
Nigeria’s Minister of State for Finance, Doris Uzoka‑Anite, described the delisting as a major milestone that will boost trade and investor confidence, congratulating President Bola Tinubu on the achievement. The decision underscores progress in financial governance and regulatory compliance among the six African countries.
