The Federal Government has highlighted key economic benefits Nigerians will enjoy after the country was removed from the Financial Action Task Force (FATF) gray list. The FATF gray list contains countries that need stronger measures to fight money laundering and terrorism financing. Nigeria’s recent exit marks a major milestone for the economy.

In a statement released on X, the Ministry of Finance, led by Wale Edun, explained that Nigerians abroad will now enjoy faster and cheaper money transfers into the country. This means diaspora remittances may become easier and less expensive, helping families, businesses and communities that depend on funds from overseas.

The government also noted that local businesses will benefit from smoother international trade and payment processes. With Nigeria now off the gray list, foreign investors are expected to have more confidence in the economy, which could bring in investments and create new jobs for citizens.

According to the Ministry, the decision shows renewed trust in Nigeria’s financial systems and opens fresh opportunities for sustainable growth. It added that the achievement is a step forward in improving the nation’s economic image globally.

However, experts are urging the government to continue reforms. Professor Franklin Ngwu from Lagos Business School warned that without deep and continuous improvements, Nigeria could risk being placed back on the FATF gray list. He stressed the need for stronger policies to maintain this progress.