BRUSSELS — The European Union has removed Nigeria and five other African nations from its list of “high-risk third country jurisdictions” for money laundering and terrorism financing, a move expected to lower transaction costs and bolster investor confidence across the continent.
The European Commission confirmed Wednesday that South Africa, Burkina Faso, Mali, Mozambique, and Tanzania were also delisted alongside Nigeria. The decision follows reports that these nations successfully addressed “strategic deficiencies” in their financial systems, meeting the international standards set by the Financial Action Task Force (FATF).
The delisting serves as a formal recognition of the reforms implemented to strengthen anti-money laundering and counter-terrorism financing (AML/CFT) frameworks.2 The FATF had previously removed Nigeria from its “grey list” in October 2025 following significant legislative and regulatory overhauls.3
Economic Relief for Affected Nations
Beginning Jan. 29, the EU will lift enhanced due diligence requirements for these countries. For businesses and banks, this means a reduction in the rigorous background checks and administrative hurdles that previously slowed down cross-border payments and increased the cost of doing business.
The commission stated that the reforms implemented were “sufficient to warrant their removal,” noting that the countries no longer pose a significant threat to the EU’s financial system.
A ‘Big Win’ for Nigeria
The announcement was met with celebration in Abuja. Doris Uzoka-Anite, Nigeria’s minister of state for finance, hailed the development as a turning point for the country’s economy under President Bola Tinubu’s administration.
“Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list!” Uzoka-Anite wrote in a statement on X. “As minister of state for finance, I’m proud of this boost to trade and investor confidence.”
Financial analysts suggest the delisting will be particularly impactful for South Africa and Nigeria—the continent’s two largest economies—as they seek to attract foreign direct investment amid global economic shifts.
The Road to Delisting: Key Milestones
| Country | Previous Status | Current Status |
| Nigeria | FATF Grey List (Removed Oct 2025) | EU Clear List (Effective Jan 2026) |
| South Africa | High-Risk Jurisdiction | EU Clear List (Effective Jan 2026) |
| Mali / Burkina Faso | High-Risk Jurisdiction | EU Clear List (Effective Jan 2026) |
