The Central Bank of Nigeria (CBN) has vowed to consolidate on recent financial system reforms, emphasizing that compliance, innovation, and trust must continue to advance hand in hand to reinforce financial stability and strengthen Nigeria’s global credibility.This pledge follows the Financial Action Task Force’s (FATF) formal announcement removing Nigeria from its list of jurisdictions under increased monitoring—commonly referred to as the “grey list.”
In a statement on Saturday, the CBN said the decision comes after a successful on-site evaluation of Nigeria’s anti-money laundering and counter-terrorist financing frameworks, marking a significant milestone in the country’s financial reform journey.
The FATF’s decision to remove Nigeria from the grey list is a strong affirmation of our reform trajectory and the growing integrity of our financial system,” said CBN Governor Olayemi Cardoso.
“It reflects a clear policy direction and the coordinated efforts of key national institutions working together to deliver sustainable, standards-based reforms.
Our priority now is to consolidate these gains, ensuring that compliance, innovation, and trust continue to advance hand in hand to reinforce financial stability and strengthen Nigeria’s global credibility.”
