Nigeria’s FATF exit to boost infrastructure investment— ICRC

….Ewalefoh says development restores investor confidence
Barbara Bako, Abuja.

The Infrastructure Concession Regulatory Commission (ICRC) has hailed Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as a game-changing milestone that strengthens the country’s financial credibility and opens new opportunities for infrastructure financing.

The FATF grey list identifies countries with weaknesses in anti-money laundering and financial transparency frameworks. Nigeria’s exit, according to the ICRC, signals improved financial governance, reduces perceived risk, and reassures global investors of the country’s commitment to international standards.

Reacting to the development, the Director-General of the ICRC, Dr. Jobson Oseodion Ewalefoh, said the decision reflects the stability and reforms driven under President Bola Ahmed Tinubu’s administration.

He commended the Nigerian Financial Intelligence Unit (NFIU), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and the Ministries of Finance and Justice for their roles in strengthening compliance and achieving the milestone.

According to Dr. Ewalefoh, the delisting is expected to “trigger a renewed influx of private capital into Nigeria’s infrastructure space,” particularly as the country works to close its estimated $2.3 trillion infrastructure gap.

He said, “Nigeria now carries a cleaner financial risk profile. This means lower risk premiums, easier cross-border transactions, and stronger investor confidence. For us at the ICRC, this directly supports our mission to attract innovative financing that will help bridge Nigeria’s infrastructure gap.”

The ICRC noted that sustained annual investments of about $100 billion are required until 2043 to bridge the infrastructure deficit.

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With renewed investor confidence, the Commission expects more inflows through Public-Private Partnerships (PPPs) and other private-sector-led financing models.

Since President Tinubu assumed office, the ICRC has streamlined PPP processes, secured presidential approval for higher project thresholds of N20 billion and N10 billion for MDAs and issued a comprehensive regulatory framework to guide project development and delivery.

“Nigeria is open for business like never before. With FATF’s delisting and our strengthened PPP framework, the stage is set for a new wave of infrastructure investment that will redefine Nigeria’s economic landscape,” Dr. Ewalefoh affirmed.