Nigeria and other recently delisted nations from the Financial Action Task Force (FATF) grey list have been warned against complacency by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA). They are urged to maintain reforms and fortify their anti-money laundering and counterterrorism financing frameworks. The warning was issued on Tuesday in Accra, Ghana, by Mr. Edwin W. Harris Jr., Director General of GIABA, during his welcome speech at the 2025 FATF/GIABA Joint Experts Meeting (JEM). Harris described the removal of Nigeria, Burkina Faso, South Africa, and Mozambique from the FATF list of jurisdictions under heightened monitoring as a significant milestone for Africa’s financial integrity.This accomplishment is a result of all the nations’ persistent dedication, high-level political will, and technical rigor in fixing strategic flaws in their AML/CFT frameworks. But achieving long-term compliance is not a straight line. Maintaining the integrity of our financial systems in the face of changing threats calls for alertness, flexibility, and a common goal. He pointed out that although the delisting of Nigeria and Burkina Faso, two GIABA members, strengthens trust in the region’s ability to safeguard its financial systems, it must also act as a reminder of the ongoing work necessary to uphold international standards.The head of GIABA believes that the delisting should be viewed as a fresh start that necessitates greater regional cooperation and national coordination rather than as the conclusion of the process. He declared, “We must continue to build on the momentum achieved, ensuring that the reforms are institutionalized and sustainable. Complacency is not an option.” Harris also revealed that Ghana will be the first member state to go through GIABA’s third round of mutual evaluations.He urged the Ghanaian government and other ECOWAS members to fully support the exercise, stressing that it is a nationally owned process that calls for political leadership and interagency cooperation. The delisting of the four nations during the FATF Plenary two weeks ago, according to the GIABA Director General, shows increasing maturity and regional cooperation in combating financial crimes. The action is anticipated to boost investor confidence, strengthen correspondent banking ties, and provide a more positive image of Africa’s financial systems internationally, he continued.The two main topics of the Ghana-hosted FATF/GIABA Joint Experts Meeting in 2025 are Terrorist Financing (TF) and Trade-Based Financial Crime (TBFC). In order to exchange experiences and create workable plans for dealing with new dangers, the gathering brings together specialists from FATF, GIABA member nations, law enforcement organizations, and international partners. In order to guarantee that recent advances are maintained and solidified, Harris reiterated GIABA’s commitment to assisting member nations through technical assistance, regional projects, and policy coordination.
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