Nigeria’s removal from the Financial Action Task Force (FATF) grey list marks a major milestone that strengthens the country’s financial credibility, according to the Infrastructure Concession Regulatory Commission.
Director-General of the ICRC, Dr Jobson Ewalefoh, stated this in Abuja on Friday in a release issued by the commission’s Acting Head of Media and Publicity, Mr. Ifeanyi Nwoko.
Ewalefoh said Nigeria’s removal from the FATF grey list repositions the country as one of Africa’s most attractive investment destinations. He explained that the FATF grey list identifies countries with deficiencies in anti-money laundering and financial transparency controls.
According to him, Nigeria’s exit from the list signals improved financial governance, reduced perceived investment risks, and reassures global investors of the nation’s commitment to international financial standards.
The Director-General added that the decision reflects the economic stability and reforms being championed under the leadership of President Bola Tinubu.
He acknowledged the contributions of key institutions such as the Nigerian Financial Intelligence Unit, Central Bank of Nigeria, Securities and Exchange Commission, and the Federal Ministries of Finance and Justice in strengthening the compliance framework that led to this achievement.
Ewalefoh noted that the delisting is expected to trigger a renewed influx of private capital into Nigeria’s infrastructure sector, helping to close the nation’s significant infrastructure financing gap.
PUNCH/TIMOTHY KAYODE
