The Infrastructure Concession Regulatory Commission has described Nigeria’s removal from the Financial Action Task Force grey list as a landmark achievement that will enhance investor confidence, strengthen the nation’s financial reputation, and open access to over $2.3 trillion in infrastructure financing opportunities.
The FATF grey list highlights countries with shortcomings in anti–money laundering and financial transparency systems.
Nigeria’s exit from the list signifies improved financial governance and reduced investment risks, reassuring global investors of the country’s commitment to international financial standards.
Reacting to the development, the Director-General of the ICRC, Dr. Jobson Oseodion Ewalefoh, said the milestone reflects Nigeria’s growing economic stability and the impact of reforms implemented under the administration of President Bola Ahmed Tinubu.
He praised the coordinated efforts of the Nigerian Financial Intelligence Unit, Central Bank of Nigeria, Securities and Exchange Commission, and the Ministries of Finance and Justice for fortifying compliance mechanisms that led to Nigeria’s delisting.
“Nigeria now carries a cleaner financial risk profile. This means lower risk premiums, easier cross-border transactions, and stronger investor confidence,” Dr. Ewalefoh stated. “For us at the ICRC, this directly supports our mission to attract innovative financing that will help bridge Nigeria’s infrastructure gap.”
According to the ICRC boss, Nigeria’s infrastructure deficit, currently valued at over $2.3 trillion, demands sustained annual investments of about $100 billion up to 2043. He noted that with the renewed investor confidence following the FATF delisting, Nigeria is well-positioned to accelerate capital inflows through Public-Private Partnerships (PPPs) and other private sector-led financing models.
The Commission emphasized that this milestone would attract institutional investors, impact funds, and global financiers seeking credible and transparent opportunities in Nigeria’s expanding infrastructure market.
Since President Tinubu assumed office, the ICRC has been restructured for improved efficiency and impact. Under his leadership, the Commission has streamlined PPP processes, obtained Presidential approval for new project thresholds of ₦20 billion and ₦10 billion for Ministries, Departments, and Agencies (MDAs) to expedite smaller projects, and released a comprehensive regulatory framework that outlines clear procedures from project conception to completion.
“Nigeria is open for business like never before,” Dr. Ewalefoh affirmed. “With FATF’s delisting and our strengthened PPP framework, the stage is set for a new wave of infrastructure investment that will redefine Nigeria’s economic landscape.”
He urged both local and international investors to seize this opportunity to collaborate with the Nigerian government in developing transformative infrastructure across key sectors such as transportation, power, water, healthcare, and technology.
