In a significant development for Africa’s financial credibility, the Financial Action Task Force (FATF) has officially removed Nigeria, South Africa, Burkina Faso, and Mozambique from its “grey list” — a category for countries previously flagged for deficiencies in anti-money laundering and counter-terrorism financing measures.
The decision was announced on Friday following the FATF’s plenary meeting in Paris, where delegates concluded that the four countries had made substantial progress and successfully implemented their corrective action plans within agreed timelines.
According to the FATF, the removal followed “successful on-site visits” that confirmed each nation’s improved compliance with global financial safeguards. The countries will no longer be subject to the agency’s increased monitoring regime, marking a major milestone in their efforts to strengthen financial transparency and regulatory enforcement.
Nigeria’s delisting, in particular, represents a boost for its financial institutions and international reputation. The move is expected to enhance investor confidence, facilitate smoother cross-border transactions, and support the country’s broader economic reforms.
The FATF, which brings together more than 200 countries and jurisdictions, sets global standards for combating money laundering, terrorist financing, and the proliferation of weapons of mass destruction. Its grey list highlights countries with strategic shortcomings but a demonstrated commitment to improvement, while its black list identifies high-risk jurisdictions that fail to cooperate — currently limited to Iran, Myanmar, and North Korea.
By meeting FATF’s stringent requirements, the four African nations have signaled a renewed commitment to global financial integrity and governance. Analysts say the move could open the door for stronger partnerships, increased foreign investment, and deeper integration into the global economy.
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