The Senate has commended President Bola Tinubu, the Nigerian Financial Intelligence Unit, and other key institutions for their roles in securing Nigeria’s removal from the Financial Action Task Force Grey List.

The Senate made the commendation on Tuesday, following a motion sponsored by Emmanuel Udende (Benue), under matters of urgent public importance, which he raised in accordance with Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).

The apex legislative Assembly described the removal of Nigeria from the Financial Action Task Force Grey List as a major victory for the nation’s financial integrity and global reputation.

Mr Udende, while moving the motion, said that Nigeria’s delisting by FATF was an indication of the country’s remarkable progress in addressing strategic deficiencies in its Anti-Money Laundering and Countering the Financing of Terrorism Framework.

He added that this also demonstrated Nigeria’s strong commitment to global financial integrity standards.

The lawmaker observed that Nigeria’s previous inclusion on the FATF Grey List had subjected the country to heightened international monitoring, scrutiny, and reputational risks, thereby adversely affecting investor confidence and limiting access to global financial markets.

He attributed the development to the successful implementation of extensive reforms and policy measures by the executive arm of government, the National Assembly, and several regulatory and enforcement agencies.

Passing resolutions after debating the motion, the Senate recognised “the invaluable leadership and contributions of Mr Tinubu, the Senate president, the NFIU, the Economic and Financial Crimes Commission, among others.

Contributing, senators expressed delight that the delisting has boosted investor confidence and reassured the international community of Nigeria’s renewed commitment to transparency, accountability, and global financial standards.

The lawmakers also mandated the Senate Committee on Anti-Corruption and Financial Crimes to sustain legislative oversight and policy reviews to further strengthen Nigeria’s financial governance.

Nigeria was first placed on the FATF Grey List in 2021 following concerns about weaknesses in its anti-money laundering and counter-terrorist financing regime.

The country’s removal from the FATF Grey List was officially announced at the FATF October 2025 Plenary in Paris, France.

Countries on the FATF grey list are considered to have deficiencies in preventing money laundering, terrorist financing, and proliferation financing.

(NAN)