ABUJA, Nigeria (VOICE OF NAIJA)-The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has applauded Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as proof of the nation’s renewed dedication to transparency and sound financial management.
FATF, the international body responsible for combating money laundering and terrorist financing, announced Nigeria’s delisting on Friday after more than two years on the watchlist for countries with weaknesses in their financial systems.
Speaking on Channels Television’s Morning Brief programme, Agama said the development represents a major milestone for Nigeria’s financial markets and will greatly enhance investor confidence and attract foreign investments.
“It means so much for us in the capital market; it means so much for us in the financial system. The release of Nigeria from the FATF grey list means investor confidence will be boosted. It sends a strong signal to investors and trading partners that Nigeria has made significant progress in strengthening its anti-money laundering and countering of financing of terrorism regulations,” he stated.
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Agama described the delisting as a “welcome call to new investments,” explaining that it would drive productivity and foster sustainable economic growth.
After implementing a 19-point action plan, Nigeria was formally removed from the grey list following FATF’s confirmation of the country’s compliance with international standards.
The SEC chief praised the Nigerian Financial Intelligence Unit (NFIU), led by Hafsat Bakari, for leading the reform efforts that achieved the delisting.
“The NFIU was at the forefront of this initiative, and we commend their commitment, which has earned Nigeria global recognition for its strengthened institutional framework to tackle financial crimes,” Agama said.
He further commended the coordinated efforts of the National Security Adviser, the Secretary to the Government of the Federation, and several ministries Aviation, Budget and Economic Planning, Defence, Foreign Affairs, Solid Minerals, and State for Finance alongside the leadership of the National Assembly and the Judiciary.
According to Agama, Nigeria’s removal from the FATF grey list reflects the country’s broader reform agenda, institutional resilience, and enhanced international credibility, positioning it for a more transparent and investor-friendly financial future.