Nigeria's progress in measures to combat money laundering and terrorist financing

Publication details

Overall, Nigeria has made significant progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation.

The country has been re-rated on the following Recommendations:

Recommendation 1 is upgraded from Partially Compliant to Largely Compliant
Recommendation 2 is upgraded from Partially Compliant to Largely Compliant
Recommendation 6 is upgraded from Partially Compliant to Largely Compliant
Recommendation 8 is upgraded from Non Compliant to Compliant
Recommendation 33 is upgraded from Partially Compliant to Compliant
Recommendation 34 is upgraded from Partially Compliant to Compliant

Nigeria has 32 Recommendations rated C/CL. Nigeria will remain in Enhanced Follow-up based on effectiveness ratings. Nigeria's next Enhanced FUR is due in November 2024.

GIABA - Follow-Up Report Nigeria - 2023

Filename: Nigeria-GIABA-Follow-Up-Report-ENG-2024.pdf
Size: 4 MB
Format: application/pdf

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Translated documents

GIABA Nigeria Rapport de suivi - 2023

Filename: Nigeria-GIABA-Follow-Up-Report-FRE-2024.pdf
Size: 4 MB
Format: application/pdf

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GIABA Nigeria Relatorio de Seguimento - 2023

Filename: Nigeria-GIABA-Follow-Up-Report-POR-2024.pdf
Size: 4 MB
Format: application/pdf

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Earlier reports

16 Feb 2023

Nigeria's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses the progress Nigeria made in addressing the technical compliance deficiencies identified in its 2021 mutual evaluation report.
4 Nov 2021

Nigeria's measures to combat money laundering and the financing of terrorism and proliferation This report provides a summary of the AML/CFT measures in place in Nigeria as at the date of the on-site visit (25 September to 14 October, 2019). It analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of its AML/CFT system and makes recommendations on how the system could be strengthened.
7 May 2008

Mutual Evaluation of Nigeria Nigeria is a member of GIABA, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Nigeria was conducted by GIABA.

Related materials

GIABA

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolidated assessment ratings

The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024