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Nigeria

ISO NG · africa

Increased Monitoring (Grey List)

Listed since 2023-02

Nigeria is one of Africa's largest cryptocurrency markets but was placed on the Grey List due to AML/CFT implementation deficiencies. Remedial measures have been underway throughout 2024-2025.

Key AML/CFT Issues

  • ·VASP licensing regime under development (SEC-led)
  • ·Insufficient DNFBP sector supervisory capacity
  • ·Gaps in freezing funds of sanctioned targets

Crypto / VASP Impact

medium risk

Verification of Nigeria SEC-registered VASPs required. Exercise caution with P2P transaction flows. Apply EDD.

Official Source

https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Increased-monitoring-february-2026.html

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Data as of FATF plenary 2026-02. For enforcement decisions, always verify against the latest official FATF publication. This page is for informational purposes only and does not constitute legal advice.