Spaces For Change Lauds Nigeria’s Grey List Removal

Spaces for Change has lauded Nigeria’s removal from the Financial Action Task Force (FATF) grey list, hailing the country’s strengthened financial integrity and compliance with international anti-money laundering and counter-terrorism financing (AML/CFT) standards.

The delisting was announced at the FATF plenary session held in Paris, France, in October 2025, alongside Burkina Faso, South Africa, and Mozambique.

The FATF said the removal from the grey list reflects Nigeria’s successful efforts to address key deficiencies in its AML/CFT framework, particularly improvements in implementing FATF Recommendation 8, which targets the non-profit sector’s vulnerability to terrorism financing.

These efforts have been closely monitored and reviewed by the International Cooperative Review Group (ICRG).

Commenting on the development, the executive director of Spaces for Change, Victoria Ibezim-Ohaeri, noted that it has actively supported Nigeria’s reforms through capacity-building programs for non-profit organisations, regulators, and agencies responsible for national terrorism financing risk assessments.
Since 2022, Nigeria has removed non-profits from the list of obliged reporting entities and revised its AML/CFT framework to exclude non-profits from designated non-financial businesses and professions (DNFBPs).

“Over the years, S4C’s advocacy focused on providing capacity-building support to non-profit organisations, 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.

“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.

Nigeria is now the only West African country to achieve a Fully-Compliant rating on FATF Recommendation 8. This milestone underscores the country’s commitment to regulatory excellence and operational effectiveness, fostering a more enabling environment for investment and charitable activities.

“We congratulate 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.

Ibezim-Ohaeri emphasised the organisation’s ongoing commitment to ensuring AML/CFT measures support financial integrity without limiting civil society or civic freedoms in Nigeria and the broader subregion.