Exist From the Global Crime List: Nigeria Out of the Shadows, But Not in the Clear

    BusinessDay | Newsletter | Oct 29, 2025    
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The global probe had gone on for two years, and it had been elevated. Understandably, there were sighs of relief across Lagos and Abuja when the Paris-based global ombudsman on dirty money, the Financial Action Task Force (FATF), revealed that Nigeria would be expunged from the “Grey List”. The list is a dreaded roaster of countries deemed to have failed to curb money laundering, terrorist financing, and proliferation financing. Thus, being in the list since February 2023 was, for Nigeria, a trammel around its neck, as it sent signals to global banks and investors that Nigeria’s financial system called for extra alert.

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