The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has described Nigeria’s removal from the Financial Action Task Force (FATF) grey list as a major confidence boost for investors and a reflection of the government’s renewed commitment to transparency and reform.
FATF, on Friday, announced Nigeria’s exit from its list of countries with strategic deficiencies in anti-money laundering and counter-terrorism financing frameworks, following the implementation of a 19-point action plan that spanned over two years.
While describing the delisting as “a major milestone in Nigeria’s journey towards economic reform, institutional integrity, and global credibility,” Agama said the development would strengthen the country’s capital market, improve investor sentiment, and attract more foreign investments. “It means so much for us in the capital market; it means so much for us in the financial system. It brings about something that we have been craving for, investor confidence,” he stated.
According to him, Nigeria’s delisting “sends a very strong signal to investors and trading partners that the country has made significant progress in strengthening its anti-money laundering and countering the financing of terrorism regulations.” He described the move as a welcome call to new investments noting that it would further support productivity and economic growth.
Agama commended the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, and her team for their commitment and diligence in implementing the nation’s action plan. “The NFIU was in the forefront of this initiative, and we commend their commitment which has earned Nigeria global recognition for its strengthened institutional framework to tackle financial crimes,” he said.
The Commission also acknowledged the contributions of key government officials, including the National Security Adviser, the Secretary to the Government of the Federation, and the Ministers of Aviation, Budget and Economic Planning, Defense, Foreign Affairs, Solid Minerals, and State for Finance, as well as the leadership of the National Assembly and the Judiciary.
