Four African Nations Removed from Global Money-Laundering Watchlist

The Financial Action Task Force (FATF) has removed South Africa, Nigeria, Mozambique, and Burkina Faso from its “grey list” of countries under increased monitoring for money-laundering and terrorism-financing risks. Burkina Faso joined the list in 2021, Mozambique in 2022, and both South Africa and Nigeria in 2023.

The decision, announced at the FATF plenary in Paris on 24 October 2025, followed on-site reviews showing that all four nations corrected major weaknesses within the agreed timelines. FATF said the countries demonstrated “sustained political commitment and effective progress” in strengthening financial transparency and oversight systems.

Nigeria Marks a Major Reform Milestone

Nigeria’s removal from the list drew strong praise from both government officials and market analysts. President Bola Ahmed Tinubu described the decision as “a major milestone in Nigeria’s journey toward economic reform and global credibility.”

The FATF commended Nigeria for completing a 19-point action plan that strengthened inter-agency cooperation and law enforcement. According to Hafsat Bakari, Director-General of the Nigerian Financial Intelligence Unit, the move shows Nigeria’s “improved capacity to detect, investigate, and prosecute financial crimes.”

Analysts say the development could attract new investors, lower remittance costs, and boost confidence in Nigeria’s banking system after almost three years of international scrutiny.

South Africa Restores Financial Reputation

South Africa’s exit came after major reforms to its financial-crime framework. FATF had grey-listed the country in 2023 for weak controls on illicit finance and poor regulatory enforcement. Treasury officials called the delisting “an important milestone for South Africa’s credibility and investor trust.”

Local media, including BizNews and Daily Maverick, credited a joint effort by government, regulators, and the private sector for the turnaround. Still, experts warned that maintaining transparency and consistent enforcement will be South Africa’s next test.

Reform Momentum Across Africa

Mozambique and Burkina Faso also earned recognition for improving their financial systems and international cooperation. FATF said the removals highlight “Africa’s growing resolve to build strong, transparent financial institutions.”

The delisting of four nations in one session marks one of FATF’s largest single reforms to date. Economists believe the move will help attract investment, simplify cross-border banking, and signal a new era of compliance across the continent.