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Nigeria (NG) · Module Detail

Nigeria: AML/CFT & Financial Crime (Sentinel.gi-fed)

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sentinel. Nigeria's AML/CFT/CPF posture is anchored on the Money Laundering (Prevention and Prohibition) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022 and the Proceeds of Crime (Recovery and Management) Act 2022, supervised by the CBN with the NFIU and EFCC. Nigeria was placed on the FATF grey list in February 2023, completed its 19-point action plan by May 2025 and was formally delisted at the October 2025 FATF Plenary, improving correspondent-banking and risk-rating conditions; the next mutual evaluation is expected 2027. (Carried per Sentinel.gi payments-context feed — no original FIM analysis performed.)

Open gap — wpm-int-3No Sentinel-fed AML/CFT data available for Nigeria this cycle.no under-indexing note recorded
Horizon · 2027 (± a year)Next FATF mutual evaluation of NigeriaProposed · Tier 3 source
Standing sub-brief · as of 26 June 2026210 words

AML/CFT & Financial Crime (Sentinel-fed)

This module is sourced from the Sentinel feed; WPM carries only the payments-context impact and performs no original illicit-finance analysis. Per Sentinel, at the FATF Plenary held 22–24 October 2025 Nigeria — alongside Burkina Faso, Mozambique and South Africa — was removed from the FATF grey list after completing its 19-point action plan by May 2025. The principal AML/CFT/CPF laws are the Money Laundering (Prevention and Prohibition) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022 and the Proceeds of Crime (Recovery and Management) Act 2022, supervised by the CBN with the NFIU and EFCC. Reforms included operationalising a Beneficial Ownership Register, broader DNFBP supervision and strengthened NFIU–EFCC coordination; the next mutual evaluation is expected in 2027.

no periodic updates on record for this sub-brief

Sources and findings (5)
  1. T3https://www.mondaq.com/nigeria/money-laundering/1701544/nigerias-exit-from-the-grey-list-implications-for-businesses-and-the-financial-systemretrieved
  2. T?FIM (sentinel.gi) per-JID baseline profile — Nigeria — Nigeria's AML/CFT/CPF regime rests on the Money Laundering (Prohibition) Act 2011 (as amended), NFIU Act 2018, Terrorism Prevention Act, and CAMA 2020 BO framework, supervised by CBN, SEC and NAICOM with EFCC/NFIU as lead enforcement/FIU bodies. Nigeria exited the FATF grey list in October 2025 after a February 2023-2025 action plan, but GIABA follow-up reviews still flag technical gaps, especially in free-zone beneficial ownership transparency and targeted financial sanctions for proliferation financing.
  3. T2FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-002) — Enforcement: Federal High Court (Abuja) / EFCC — Saleh Mamman, former Minister of Power
  4. T?FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004) — Gap: capacity-deficit
  5. T?FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002) — Gap: legal-gap