Nigeria has been awarded the prestigious UNODC–World Bank–Egmont Group Stolen Asset Recovery (StAR) Initiative Award at the 32nd Egmont Group Plenary of Heads of Financial Intelligence Units in Baku, Azerbaijan.
The award recognises an outstanding collaborative case between the @FIUNigeria and the @officialEFCC, demonstrating how timely financial intelligence, effective inter-agency cooperation and international collaboration can support successful investigations, asset recovery and the disruption of illicit financial networks.
Reacting to the award, NFIU Chief Executive Officer, Hafsat Abubakar Bakari, described the recognition as “a proud moment for Nigeria and a powerful affirmation of the quality, professionalism and impact of our financial intelligence architecture.”
She also commended the Executive Chairman of the EFCC, Mr. Ola Olukoyede, and the Commission’s officers for their commitment to collaboration and excellence, noting that the award reflects the strength of Nigeria’s collective efforts in combating money laundering, terrorism financing and other serious financial crimes.
This international recognition underscores Nigeria’s growing reputation as a trusted partner in the global fight against illicit finance and highlights the power of intelligence-led investigations in delivering tangible results.
As financial crime becomes increasingly sophisticated and transnational, the NFIU remains committed to strengthening partnerships, advancing innovation and protecting the integrity of Nigeria’s financial system.
#NFIU #EgmontGroup #StARAward #FinancialIntelligence #AML #CFT #AssetRecovery #InternationalCooperation #EFCC #Nigeria
Nigeria is off the FATF Grey List!
A major step forward in strengthening our financial integrity and global reputation.
This milestone reflects the country’s sustained reforms in combating money laundering, terrorist financing and other financial crimes.
STATEHOUSE STATEMENT
President Tinubu welcomes delisting of Nigeria from the FATF Grey List, says Nigeria is committed to Global Financial Transparency
President Bola Ahmed Tinubu GCFR has welcomed Nigeria's delisting from the Financial Action Task Force (FATF) grey list.
The FATF announced the delisting at its Plenary in Paris, France, today.
The FATF is the world’s foremost standard-setting body for combating money laundering, terrorist financing and proliferation financing.
The announcement formally removed Nigeria from the list of jurisdictions under increased monitoring, commonly referred to as the “grey list”.
President Tinubu described the development as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.”
This decision follows Nigeria’s successful and timely completion of its FATF Action Plan, marking over two years of sustained effort, reform and inter-agency coordination aimed at strengthening the country’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.
In February 2023, the FATF placed Nigeria on the grey list. The message from the global community was clear: the nation needed more vigorous enforcement, better coordination, and greater transparency. Rather than treat this as a setback, Nigeria viewed it as a call to action.
Under President Tinubu’s strategic leadership and in line with the economic transformation agenda of his administration, Nigeria implemented far-reaching legal, institutional and operational reforms.
This was achieved through the coordination of the Nigerian Financial Intelligence Unit (NFIU), working in conjunction with the Attorney-General of the Federation and Minister of Justice, the Minister of Finance, and the Coordinating Minister of the Economy and the Minister of Interior.
President Tinubu applauded the vital support from the Secretary to the Government of the Federation, the Minister of Aviation, the Minister for Budget and Economic Planning, the Minister for Defence, the Minister for Foreign Affairs, the Minister for Solid Minerals, the Minister of State for Finance, the National Security Adviser as well as the leadership of the National Assembly and the Judiciary, in the attainment of the laudable achievement.
President Tinubu commended the Director/Chief Executive Officer of the NFIU, Ms Hafsat Abubakar Bakari, and the staff for their diligence in ensuring the complete and timely implementation of the country’s Action Plan. He noted that the NFIU’s work has led to the recognition by the international community of the strides Nigeria has made in strengthening its measures to tackle serious crimes.
“Without their dedication and sacrifice, today’s success could not have been achieved. I thank them for their efforts and urged other stakeholders to emulate their standards”, President Tinubu said.
Nigeria’s efforts in completing the Action Plan were complemented by the country’s close partnership with the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).
President Tinubu acknowledged the strong support of international partners, the Governments of France, Germany, the United Kingdom, the United States, the United Nations and the European Commission, for their steadfast technical assistance during Nigeria’s reform process.
According to President Tinubu, Nigeria’s removal from the FATF grey list is “not just a technical accomplishment, it is a strategic victory for our economy and a renewed vote of confidence in Nigeria’s financial governance.
“The exit from the FATF grey list marks the beginning of a new chapter in the nation’s financial reform agenda as Nigeria will sustain the already institutionalised reforms, deepen institutional collaboration and continue to build a financial system that Nigerians and the world can trust”.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
October 24, 2025
Nigeria is off the #FinancialActionTaskForce (FATF) Grey List!
A major step forward in strengthening our financial integrity and global reputation.
This milestone reflects the country’s sustained reforms in combating money laundering, terrorist financing and other financial crimes. Congratulations Nigeria 🇳🇬.
#Nigeria #FATF #NFIU #FinancialIntegrity
@SalxSally@prayforPhrv@obareengy@rehmahz 🤣🤣🤣🤣🤣🤣🤣!!!! At this rate, we may have to do the needful oh🤣.. Please also harass baron and Clinton to speed up this release abeg 🤣🤣😅😅🏃🏽♂️🏃🏽♂️! And thanks sooo much guys… it’s really heartwarming and encouraging too!😅🙏🏽❤️🤗
@Limoblaze We can’t even banter you Chelsea anymore cos it’s more of a spiritual issue now! I have always known you for a winner, so GOD may be speaking to you fam! 🤣🤣