FATF Delisting to Boost Foreign Investments in Nigeria, Says SEC DG Emomotimi Agama
Nigeria’s removal from the Financial Action Task Force (FATF) grey list has been hailed as a major milestone for the country’s economy, with the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, describing it as a “turning point” for investor confidence and financial market stability. Speaking on Channels Television’s Morning Brief, Agama said the delisting sends a powerful message to global investors about Nigeria’s renewed commitment to transparency, accountability, and sound financial governance.
FATF, the global watchdog responsible for combating money laundering and terrorism financing, announced Nigeria’s delisting on Friday after more than two years on the grey list. The move follows the country’s successful implementation of a comprehensive 19-point action plan aimed at strengthening its anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks. The decision, analysts say, restores Nigeria’s financial credibility and enhances its attractiveness to foreign investors.
“It means so much for us in the capital market; it means so much for our financial system,” Agama said. “The release of Nigeria from the FATF grey list means investor confidence will be boosted. It sends a strong signal to investors and trading partners that Nigeria has made significant progress in strengthening its AML/CFT regulations.” The SEC boss emphasized that the development will lead to increased capital inflows, stimulate productivity, and drive long-term economic growth.
Agama also commended the Nigerian Financial Intelligence Unit (NFIU), led by Hafsat Bakari, for its pivotal role in achieving compliance with FATF’s global standards. He acknowledged the collaborative efforts of the National Security Adviser, the Secretary to the Government of the Federation, and several ministries, including those of Defence, Budget and Economic Planning, Foreign Affairs, Aviation, Solid Minerals, and Finance. He further lauded the leadership of the National Assembly and the Judiciary for their support in enacting key reforms that strengthened Nigeria’s institutional capacity to combat financial crimes.
The SEC chief described the FATF delisting as a validation of Nigeria’s broader reform agenda and institutional integrity. According to Agama, this milestone reinforces the country’s reputation as a responsible global financial player and opens the door for renewed foreign partnerships. “This achievement positions Nigeria for a stronger financial future anchored on transparency, investor trust, and sustainable growth,” he said.
source: punch