The Financial Action Task Force (FATF) has removed South Africa, Nigeria, Mozambique, and Burkina Faso from its “grey list” of countries under enhanced monitoring for anti–money laundering and counterterrorism financing deficiencies.
The decision followed on-site evaluations that confirmed significant progress by the four nations in addressing identified weaknesses within the agreed timelines.
FATF President praised the removals as “a positive success story for the African continent,” noting that South Africa had strengthened its monitoring tools, Nigeria improved coordination mechanisms, Mozambique enhanced information-sharing, and Burkina Faso tightened oversight of financial institutions.
Officials from the four countries welcomed the decision, with Nigeria’s president describing it as “a landmark step in the nation’s economic reform and institutional integrity journey.”
