Nigeria is no longer on the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring, popularly known as the “grey list.”
The FATF is the global watchdog tackling money laundering, terrorism and proliferation financing. The earliest stages of money laundering are the “placement” and “layering”, where illicit fund is introduced into the legal financial system and quickly moved around, often across jurisdictions, to mask the trail from law enforcement agencies.
FATF’s standards help to coordinate a global response that prevents the infiltration of “bad money” through standards setting for more than 200 participating countries. It also publicly calls out “weak links”, alerting the global financial community to beware of funds to and from such jurisdictions through periodic reports filed three times a year (February, June, and October).
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Last updated: October 26, 2025
