Brussels (Brussels Morning Newspaper) January 17, 2026 – Belgium’s Finance Minister Vincent Van Peteghem welcomed Nigeria’s removal from the European Union’s list of high-risk third countries for strategic deficiencies in anti-money laundering and counter-terrorist financing regimes. The European Commission announced the decision following FATF confirmation of Nigeria’s exit from the global grey list in 2025. The delisting restores Nigeria’s access to EU financial markets and development funding previously restricted under enhanced due diligence requirements.
The EU list update published in Official Journal removes Nigeria alongside two other countries previously flagged by Financial Action Task Force. Belgian financial institutions adjust compliance programmes immediately eliminating Nigeria-specific transaction screening protocols. Finance Ministry confirmed positive implications for €1.2 billion bilateral trade volume recorded 2025.
Delisting Announcement and Procedural Background
European Commission adopted delegated regulation January 16 amending Annex I of Directive (EU) 2015/849. Regulation (EU) 2026/145 published Official Journal January 17 entering force immediately. Decision follows FATF plenary October 2025 confirming Nigeria addressed 23 percent strategic deficiencies identified 2023 grey-listing.
Commission assessment verified Nigeria’s compliance with 17 immediate outcomes of FATF 40 Recommendations. Technical compliance evaluated across 10 chapters including risk assessment, legal systems, supervision frameworks. EU methodology aligns with FATF mutual evaluation report published July 2024.
Finance Minister Van Peteghem Statement Details
Minister stated during January 17 press briefing: “Nigeria’s delisting rewards substantial reforms strengthening financial integrity. Belgium supported capacity building through €45 million technical assistance 2023-2025.” Remarks delivered VBO-FEB headquarters attended by 87 banking executives.
Finance Ministry coordinates National Risk Assessment update incorporating Nigeria status change. Circular FPS Economy notifies 1,240 regulated entities of revised risk ratings effective January 20.
Nigerian Financial Reforms Implemented
Central Bank of Nigeria enacted Virtual Assets Service Providers Regulation 2025 registering 214 crypto platforms. Nigeria Financial Intelligence Unit processed 1.2 million suspicious transaction reports 2024 representing 340 percent increase from 2023. Commercial banks implemented customer due diligence upgrades covering 92 percent account holders.
National Money Laundering Committee coordinated 17 inter-agency task forces targeting trade-based laundering. Corporate Affairs Commission digitised beneficial ownership registry covering 450,000 entities
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