How CBN’s FX reforms, rising compliance triggered Nigeria’s removal from EU’s high-risk list

The announcement by the European Union (EU), that Nigeria has been removed from its list of high-risk jurisdictions for money laundering and terrorism financing shows key benefits from the Central Bank of Nigeria (CBN) reforms. It highlights the increasing transparency and compliance in the financial services sector and effective implementation of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures. Nigeria’s exit from the EU’s High-risk List is expected to enhance global trust and partnership for the domestic