ELFON Commends Tinubu, NASS, and Judiciary Over Nigeria’s Removal from FATF Grey List
ELFON Commends Tinubu, NASS, and Judiciary Over Nigeria’s Removal from FATF Grey List
The Emerging Leaders Forum of Nigeria (ELFON) has commended President Bola Ahmed Tinubu, the National Assembly, and the Judiciary for their combined efforts leading to Nigeria’s removal from the Financial Action Task Force (FATF) Grey List.
During a press conference held in Abuja, the National President of ELFON, Hon. Godstime Chukwubuikem Samuel, praised President Tinubu for demonstrating strong political will in strengthening the nation’s financial systems and enhancing global investor confidence.
ELFON noted that the recent signing into law of two key Executive Bills the Investment and Securities Act, 2025 and the Nigerian Insurance Industry Reform Act, 2025 reflects the administration’s firm commitment to combating money laundering, terrorism financing, and other financial crimes.
The Forum also extended commendation to the National Assembly, noting that its proactive legislative support was pivotal in achieving Nigeria’s FATF compliance goals. ELFON particularly acknowledged the contributions of Rt. Hon. Femi Gbajabiamila, who, as Speaker of the 9th Assembly (2019–2023), championed critical legislative reforms that strengthened Nigeria’s anti-corruption framework.
Among the key laws highlighted were:
The Companies and Allied Matters Act (CAMA) 2020
The Money Laundering Prevention and Prohibition Act 2022
The Terrorism Prevention and Prohibition Act 2022
The Proceeds of Crime Act 2022
The Data Protection Act 2023
ELFON emphasized that these laws formed the bedrock of the technical compliance clearance secured by Nigeria.
The Forum also commended President Tinubu’s bold decision to remove fuel subsidies, describing it as a necessary move that eliminated long-standing corruption in the oil sector and improved revenue allocation to states and local governments. Additionally, ELFON hailed the administration’s drive toward financial autonomy for local governments, describing it as crucial for grassroots development.
In the same vein, ELFON praised the Judiciary for playing a key role in supporting government policies through its landmark rulings affirming the financial autonomy of local governments and the legal status of key anti-graft agencies such as the NFIU, ICPC, and EFCC.
The Forum urged the National Assembly to continue to provide the necessary legislative and legal backing for policies aimed at making Nigeria a preferred investment destination in Africa.
ELFON expressed optimism that Nigeria’s delisting from the FATF Grey List will boost investor confidence, enhance foreign direct investment, and open new opportunities in the global market.
The Forum further encouraged all stakeholders to sustain the positive momentum and ensure Nigeria maintains its global reputation for transparency and accountability.
Signed:
Hon. Godstime Chukwubuikem Samuel
National President, Emerging Leaders Forum of Nigeria (ELFON)
