The European Union (EU) has removed Nigeria and five other African countries from its list of “high-risk third country jurisdictions’’ for money laundering and terrorism financing.
Alongside Nigeria, South Africa, Burkina Faso, Mali, Mozambique, and Tanzania were also taken off the list.
The update comes after the affected nations were similarly removed from the Financial Action Task Force (FATF) grey list, following reforms aimed at strengthening anti-money laundering and counter-terrorism financing (AML/CFT) controls.
In October 2025, the FATF confirmed Nigeria’s exit from its grey list of jurisdictions with weaknesses in their AML/CFT systems. Countries on that watchlist are usually subjected to stepped-up monitoring and oversight.
According to Business Insider Africa, the European Commission disclosed on Wednesday that the delisted nations had addressed “strategic deficiencies’’ in their financial structures and now comply with FATF global standards.
The Commission added that the measures taken were adequate to justify their removal from the EU’s financial high-risk designation.
From January 29, enhanced due diligence requirements will be lifted for the countries, a move expected to ease trade and payment barriers, trim transaction costs, and bolster investor confidence.
Reacting to the move on Thursday, Doris Uzoka-Anite, minister of state for finance, hailed the development as a significant breakthrough.
“Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Tinubu on this achievement,” she wrote on X.
“As minister of state for finance, I’m proud of this boost to trade and investor confidence.”