Exiting FATF Grey List: Spaces For Change Congratulates Nigeria

For exiting the Financial Action Task Force (FATF) grey list, Spaces for Change (S4C) has congratulated Nigeria on this feat.

Persecondnews recalls that the milestone was announced at the FATF plenary session held in Paris, France, in October 2025, where Nigeria was delisted from the grey list alongside Burkina Faso, South Africa, and Mozambique.

Delisting from the FATF grey list means that these countries have successfully addressed the identified deficiencies in their anti-money laundering and countering the financing of terrorism (AML/CFT) frameworks and improved the integrity of their financial systems within the agreed timeframes, monitored and reviewed by the International Cooperative Review Group (ICRG).

Victoria Ibezim-Ohaeri, the Executive Director at S4C said in a statement emailed to Persecondnews: “Prior to Nigeria and Burkina Faso’s exit, Spaces for Change (S4C) has been working in the two countries to ensure the effective implementation of FATF Recommendations, particularly as it relates to the non-profit sector.

“Over the years, S4C’s advocacy focused on providing capacity-building support to non-profit organizations, key agencies, and regulators conducting national terrorism financing risk assessments, thereby strengthening their implementation of the FATF Recommendation 8.

“Other initiatives include conducting targeted outreaches, facilitating multistakeholder dialogues, and delivering technical assistance to key agencies to implement key reform measures and programs towards combating money laundering and mitigating terrorism financing abuse in the non-profit sector.

“In 2022, Nigeria also took steps to remove nonprofits from the list of obliged reporting entities and also reformed national AML/CFT frameworks, removing nonprofits from the list of designated non-financial professions and businesses (DNFBPs).

“After these efforts, we are happy to witness the country’s positive compliance rating, specifically Nigeria, becoming the only West African country to secure a Fully-Compliant rating on FATF Recommendation 8. Nigeria’s current delisting from the FATF grey list reinforces past progress and successes, demonstrating the country’s commitment to technical compliance and operational effectiveness.”

S4C congratulated the Federal Republic of Nigeria and, by extension, the Burkinabe authorities on this new milestone, which will eventually translate into a less restrictive environment for charities and investors.

S4C said it remained committed to its institutional mandate of working to ensure the implementation of countermeasures across the subregion does not limit civil society and restrict civic freedoms.