The British High Commissioner to Nigeria, Richard Montgomery, has praised Nigeria’s removal from the FATF grey list, describing it as “brilliant news.”

In a post on X, Montgomery credited the move to reforms introduced by President Bola Tinubu’s administration, saying it would boost trade and investment confidence.

Nigeria was delisted at the October 2025 FATF Plenary in Paris after meeting all reform requirements led by the Nigerian Financial Intelligence Unit (NFIU) and partner agencies.

Tinubu hailed the development as a “strategic victory” for Nigeria’s economy and reaffirmed his government’s commitment to transparency and accountability.

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The Financial Action Task Force (FATF) has removed Nigeria from its grey list after nearly three years, signaling renewed global confidence in the country’s financial system.

The decision, which also includes South Africa, Burkina Faso, and Mozambique, follows reforms to strengthen anti-money laundering and counter-terrorist financing measures.

Nigeria’s exit is expected to ease cross-border transactions, boost remittance inflows, and attract more foreign investment in key sectors such as energy, manufacturing, and technology.

Finance Minister Wale Edun said the move reinforces trust in Nigeria’s economic reforms and will enhance investor confidence, capital inflows, and job creation.

The post JUST IN: Nigeria Exits FATF Grey List, Boosting Investor Confidence and Financial Credibility appeared first on Housing TV Africa.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, says the bank’s ongoing reforms are designed to stabilise the economy, rebuild investor confidence, and reduce inflation to single digits in the medium term.

Speaking during a fireside chat at his inaugural lecture at the Lagos Business School, themed “Next Generation Leadership in Monetary Policy and Nation Building,” Cardoso said credibility, transparency, and policy consistency were central to the CBN’s success so far.

“When I assumed office two years ago, the foreign exchange market was in crisis. Through bold and transparent reforms, we restored sanity and investor confidence,” he said.

Cardoso highlighted key achievements including clearing a verified foreign exchange backlog of over $7 billion, publishing the CBN’s financial statements after years of suspension, and adopting electronic systems to eliminate sharp practices in FX transactions.

He noted that under his leadership, Nigeria’s external reserves rose above $42 billion, while inflation once near 35% has moderated to about 20%. Real GDP, he added, expanded by 4.2% in the second quarter of 2025.

On financial inclusion, the CBN expanded mobile and agency banking coverage from 56% in 2020 to 64% in 2025, and began recapitalising banks to build a stronger, more resilient financial system.

Cardoso emphasised that credibility remains the foundation of monetary policy: “People invest where there is integrity, transparency, and trust. That is what we are rebuilding.”

He urged Nigerian youths to embrace credibility and innovation, describing them as the nation’s greatest asset for future development.

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