The European Union (EU) has officially removed Nigeria and five other African nations from its list of “high-risk third country jurisdictions” for money laundering and terrorism financing.

The affected countries are South Africa, Burkina Faso, Mali, Mozambique, Tanzania, and Nigeria.

The delisting follows their earlier removal from the Financial Action Task Force (FATF) grey list after implementing significant reforms aimed at strengthening their anti-money laundering and counter-terrorism financing (AML/CFT) systems.

Nigeria was taken off the FATF grey list in October 2025 after meeting required global standards and addressing identified weaknesses in its financial regulatory framework.

Countries placed on the FATF grey list are usually subjected to heightened monitoring and international scrutiny until they demonstrate compliance with recommended safeguards.

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Reports indicate that the European Commission confirmed on Wednesday that the six African countries had successfully resolved “strategic deficiencies” in their financial oversight structures and now fully comply with international AML/CFT standards.

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The commission noted that the reforms carried out by the affected nations were substantial enough to justify their removal from the EU’s financial high-risk category.

As a result of the decision, enhanced due diligence requirements previously imposed on financial transactions involving these countries will be lifted from January 29. The move is expected to simplify cross-border trade, lower transaction costs, and improve investor confidence.

Reacting to the development on Thursday, Nigeria’s Minister of State for Finance, Doris Uzoka-Anite, described the country’s removal from the EU list as a significant achievement and a positive step for the economy.

“Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Tinubu on this achievement,” she wrote on X.

“As minister of state for finance, I’m proud of this boost to trade and investor confidence.”