{"id":225276,"date":"2025-10-25T20:25:12","date_gmt":"2025-10-25T20:25:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/225276\/"},"modified":"2025-10-25T20:25:12","modified_gmt":"2025-10-25T20:25:12","slug":"nigeria-south-africa-finally-removed-from-global-dirty-money-list","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/225276\/","title":{"rendered":"Nigeria, South Africa finally removed from global dirty-money list"},"content":{"rendered":"<p>\n        The Financial Action Task Force has removed Nigeria, South Africa, Mozambique and Burkina Faso from its grey list of countries subject to increased monitoring for money laundering and terrorist financing risks.\n    <\/p>\n<p>\n        The Paris-based watchdog\u2019s decision represents a significant milestone for two of Africa\u2019s largest economies as they work to restore investor confidence, reduce the cost of capital and strengthen financial system credibility.\n    <\/p>\n<p>\n        The move follows earlier reform progress highlighted at the FATF\u2019s June plenary, and aligns with a recent report by <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/nigeria-and-south-africa-set-to-exit-dirty-money-list-in-october\/znvbnnc\" id=\"9140387e-f3b8-485b-857e-efe82ccc6591\" data-link-role-code=\"open_new_tab\" target=\"_blank\" rel=\"nofollow noopener\">Business Insider Africa <\/a>indicating that Nigeria and South Africa were on track to exit the grey list this month.\n    <\/p>\n<p>\n        By closing gaps in regulatory oversight and enhancing enforcement against illicit financial flows, the four nations have now met the FATF\u2019s requirements for delisting, boosting their standing among global financial institutions and capital markets.\n    <\/p>\n<p>        Boosting economies and investor sentiment<\/p>\n<p>\n        Nigeria and South Africa were added to the list in February 2023 while Mozambique was included in October 2022 and Burkina Faso initially in February 2021.\n    <\/p>\n<p>                    <img width=\"790\" height=\"528\" alt=\"The four nations met the FATF\u2019s requirements for delisting by closing gaps in regulatory oversight and enhancing enforcement against illicit financial flows\" title=\"The four nations met the FATF\u2019s requirements for delisting by closing gaps in regulatory oversight and enhancing enforcement against illicit financial flows\" class=\"image lazyloaded imgWithMetaData\" src=\"data:image\/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'790'%20height%3D'528'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E\" data-original=\"https:\/\/ocdn.eu\/pulscms-transforms\/1\/5ZxktkpTURBXy8wOWEwNmU5NGM1NTRkYjJmNjZkNDU3NGExYThlYTQ3My5qcGeSlQMAAM0ELM0CyZUCzQMWzQIQwsM\" fetchpriority=\"low\" decoding=\"async\" loading=\"lazy\"\/> <\/p>\n<p>\n        At its June plenary session, the Financial Action Task Force commended the four countries for strengthening their systems to combat <a href=\"https:\/\/africa.businessinsider.com\/local\/markets\/14-african-countries-on-the-fatf-dirty-money-watchlist-in-2025\/pmqtnkc\" id=\"d4e50c05-1df6-493b-9aa3-aaa66a7ac1b2\" data-link-role-code=\"open_new_tab\" target=\"_blank\" rel=\"nofollow noopener\">illicit financial flows<\/a>.\n    <\/p>\n<p>\n        Bloomberg reports that Oxford Economics senior economist Jee A Van Der Linde said South Africa\u2019s exit from the list should reinforce market optimism and signal progress on government reforms.\n    <\/p>\n<p>\n        He noted that this improvement in institutional strength could lift sentiment, reduce bond yields and lower debt servicing costs even if it does not significantly change the country\u2019s growth outlook.\n    <\/p>\n<p>\n        \u201cThis development reinforces confidence in our economy and the integrity of our monetary and financial systems, signaling to investors and global partners that Nigeria\u2019s institutions are strong, transparent and internationally trusted,\u201d Edun noted.\n    <\/p>\n<p>\n        According to him, the move will ease cross border transactions and improve capital flows including foreign direct investment while strengthening the foundations for rapid and sustainable economic growth and job creation.\n    <\/p>\n<p>\n        As two of the continent\u2019s largest economies work to attract investment, enhance market confidence and deepen financial integration, the removal of this reputational hurdle represents a timely boost to their economic outlook.\n    <\/p>\n","protected":false},"excerpt":{"rendered":"The Financial Action Task Force has removed Nigeria, South Africa, Mozambique and Burkina Faso from its grey list&hellip;\n","protected":false},"author":2,"featured_media":225277,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-225276","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/225276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=225276"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/225276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/225277"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=225276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=225276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=225276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}