By Mabeline Amara, Abuja
The Senate has commended President Bola Tinubu, Senate President, Godswill Akpabio, and key regulatory agencies including the Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Central Bank of Nigeria (CBN) for their coordinated efforts that led to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List
In its resolutions on Tuesday, the Senate described the delisting as a significant milestone that has boosted investor confidence and reassured the international community of Nigeria’s renewed commitment to transparency, accountability, and adherence to global financial integrity standards.
Moving the motion titled: “On the Need to Commend the Executive, the President of the Senate, the Nigerian Financial Intelligence Unit (NFIU), and Other Stakeholders for Their Efforts in the Removal of Nigeria’s Name from the Financial Action Task Force (FATF) Grey List,” the sponsor of the motion, Senator Emmanuel Udende (APC, Benue North East) said the development reflects Nigeria’s remarkable progress in strengthening its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
Senator Udende explained that Nigeria’s delisting followed the successful implementation of wide-ranging reforms and policy measures by the Executive, National Assembly, and key enforcement and regulatory agencies.
The federal lawmaker noted that Nigeria’s previous inclusion on the FATF Grey List had subjected the country to heightened scrutiny, reputational risks, and reduced investor confidence, limiting access to global financial markets.
The Senate thereafter resolved to urge all relevant regulatory, financial, and law enforcement agencies to sustain compliance with international standards, enhance institutional coordination, and prevent any relapse in the country’s AML/CFT systems.
The Red Chamber also mandated the Senate Committee on Anti-Corruption and Financial Crimes to strengthen legislative oversight and pursue continuous policy reviews to reinforce Nigeria’s financial governance architecture.
In their separate contributions, several senators lauded the Executive and relevant institutions over the remarkable achievement.
Senator Sunday Karimi (APC, Kogi West) commended the EFCC for its role in promoting transparency in Nigeria’s financial system, urging further support for anti-corruption agencies.
In his own comment, Senator Jimoh Ibrahim (APC, Ondo South) observed that with the delisting, Nigeria is no longer perceived as a haven for money laundering or terrorism financing, noting that citizens can now transact and invest internationally with improved credibility.
The Deputy Senate President Barau Jibrin (APC, Kano North) stated that the development will enhance Nigeria’s global reputation and attract more foreign investment.
In his closing remarks, the Senate President Godswill Akpabio praised the Presidency, the National Assembly, and all collaborating agencies for their collective efforts, describing the achievement as a testament to Nigeria’s renewed global standing and economic integrity.
