Press Statement: African Center Welcomes Nigeria’s Removal from FATF Grey List

Press Statement

African Center Welcomes Nigeria’s Removal from FATF Grey List

Abuja, Nigeria – October 2025

The African Center for Governance, Asset Recovery and Sustainable Development warmly welcomes the decision of the Financial Action Task Force (FATF) to delist Nigeria from its grey list. This milestone reflects Nigeria’s significant progress in strengthening its anti-money laundering (AML), countering the financing of terrorism (CFT), and counter-proliferation financing (CPF) frameworks.

Impact on Nigeria’s AML/CFT Progress

By addressing the FATF’s Recommendations, the African Center, with the support of the UK Foreign, Commonwealth & Development Office (FCDO) and the Africa Network for Environment and Economic Justice (ANEEJ), has contributed significantly to Nigeria’s delisting. The Center’s projects have strengthened national systems for anti-money laundering and combating of terrorist financing compliance by the legal sector, as well as assistance to the Federal Ministry of Justice in the implementation of the Proceeds of Crime (POC) Act – key factors recognized in FATF’s decision. We commend the Nigerian government, the Nigerian Bar Association (NBA), the NBA Anti-Money Laundering Committee (NBA AMLC), the judiciary, and our partners for their steadfast collaboration and commitment to reform.

As Nigeria enters this new phase, the African Center reaffirms its commitment to sustaining momentum through continued partnership with regulatory and enforcement agencies. We remain dedicated to advancing transparency, accountability, and the rule of law – all vital pillars for safeguarding Nigeria’s financial integrity and ensuring compliance with global AML/CFT/CPF standards.

About our work:

Over the past two years, the African Center has implemented multiple projects funded by the UK Foreign, Commonwealth & Development Office (FCDO) that directly supported Nigeria’s AML/CFT/CPF reforms.

In 2024, under the FCDO-supported project titled “Implementation of GFAR Principles in International Asset Recovery and the Nigerian Proceeds of Crime Act, 2022,” the Center led a Legal Sector AML/CFT/PF Risk Assessment in collaboration with the NBA–AMLC. The study identified critical gaps in compliance, supervision, and suspicious transaction reporting among legal practitioners. Based on these findings, the African Center, in partnership with the NBA–AMLC and with support from the FCDO, designed and launched the NBA–AML Compliance Portal, a first-of-its-kind digital tool that automates client due diligence, recordkeeping, and the filing of Suspicious Transaction Reports (STRs). The portal enhances compliance within the legal profession in line with the Rules of Professional Conduct for Legal Practitioners and FATF’s expectations for Designated Non-Financial Businesses and Professions (DNFBPs).

In parallel, through the FCDO-funded project “Tackling Illicit Financial Flows through Asset Recovery, Management, and Strengthening AML/CFT/PF Compliance in Nigeria,”, the Center has strengthened institutional capacity through training and technical engagement. A key milestone was the Training-of-Trainers Workshop for 33 NBA branches, which equipped legal professionals with practical knowledge on risk assessment, client verification, and suspicious transaction reporting.

Furthermore, the Center has conducted a Technical Needs Assessment (TNA) for key asset recovery and compliance institutions, including the Code of Conduct Bureau (CCB), Federal Ministry of Justice, Nigerian Financial Intelligence Unit (NFIU), Special Control Unit Against Money Laundering (SCUML), Independent Corrupt Practices and Other Related Offences Commission (ICPC), and Economic and Financial Crimes Commission (EFCC). These engagements promote inter-agency collaboration and strengthen the enforcement of the Proceeds of Crime Act, 2022.

The outcome of these TNAs will guide the African Center in developing and delivering targeted capacity-building programmes for these agencies. The planned trainings will equip enforcement and compliance officers with enhanced technical knowledge on asset tracing, management, and recovery, as well as risk-based supervision and inter-agency information sharing. This next phase aims to consolidate Nigeria’s institutional resilience, ensuring that national agencies can sustain and expand the progress achieved under the FATF Action Plan.

Through continuous advocacy and technical support, we showcased the NBA–AML Compliance Portal at the 2025 Nigerian Bar Association Annual General Conference (NBA–AGC). This deepened Nigeria’s compliance culture and strengthened the legal sector’s capacity to meet international AML/CFT obligations.

Under the GIZ-funded Fit4ICRG Facility of the “Strengthening Development Finance through Combating Illicit Financial Flows and Effective Debt Management (SFIFD)” programme, the African Center played a pivotal role in strengthening Nigeria’s compliance with FATF standards. Working closely with the Nigerian Bar Association Anti-Money Laundering Committee (NBA AMLC), the Center supported training, supervision, and risk-based inspections of law firms, developed supervision tools, and enhanced AML/CFT enforcement capacity within the legal sector.

In addition, as part of its broader technical assistance to strengthen Nigeria’s AML/CFT framework, the African Center developed the “Strategic Risk Assessment of Corruption and Money-Laundering Vulnerabilities in the Nigerian Judiciary” in October 2025, in collaboration with the National Judicial Institute (NJI). This initiative addressed key FATF recommendations on sectoral risk assessment and judicial integrity, further demonstrating Nigeria’s progress in closing identified gaps and reinforcing the reforms that led to the country’s delisting from the FATF grey list.

Beyond technical interventions, the African Center has also implemented nationwide media and public awareness campaigns to promote the use of the NBA–AMLC Portal and improve understanding of AML/CFT obligations within the legal profession and the wider DNFBP community. These advocacy efforts, through radio features and targeted stakeholder communication, have enhanced public awareness of the role of legal practitioners in combating illicit finance.

In addition, the Center hosts a monthly AML/CFT webinar series, providing continuing professional education for legal practitioners, compliance officers, and regulators across Nigeria. These sessions promote dialogue, knowledge sharing, and ongoing learning on emerging AML/CFT/CPF issues, further reinforcing national compliance standards.

Signed;

The African Center for Governance, Asset Recovery and Sustainable Development

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