Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), says Nigeria’s removal from the Financial Action Task Force (FATF) grey list marks a key milestone that strengthens the country’s financial credibility and supports faster infrastructure investment.
In a statement issued in Abuja by Ifeanyi Nwoko, Acting Head of Media and Publicity at the ICRC, Ewalefoh said the development positions Nigeria as one of Africa’s attractive destinations for investment.
He explained that the FATF grey list identifies countries with weaknesses in anti-money laundering and financial transparency systems. Nigeria’s exit, he said, reflects improved financial governance, lower investment risk, and renewed global confidence in the country’s commitment to international standards.
“The delisting underscores the stability and reforms being pursued under President Bola Tinubu,” Ewalefoh said, commending the Nigerian Financial Intelligence Unit, the Central Bank of Nigeria, the Securities and Exchange Commission, and the Ministries of Finance and Justice for their joint efforts.
According to the ICRC chief, the delisting is expected to attract more private capital into Nigeria’s infrastructure sector, particularly through Public-Private Partnerships (PPPs) aimed at addressing the nation’s $2.3 trillion infrastructure financing gap.
“Nigeria now has a cleaner financial risk profile. This means lower risk premiums, easier cross-border transactions, and stronger investor confidence,” he said. “At the ICRC, this supports our goal of mobilizing private financing to bridge the infrastructure gap.”
He noted that addressing the deficit estimated at over $2.3 trillion requires sustained annual investments of about $100 billion until 2043. The renewed investor confidence following the FATF delisting, he added, will help drive this effort through well-structured PPPs and private-sector-led models.
“The FATF milestone will attract institutional investors and global financiers seeking credible and transparent investment opportunities in Nigeria’s infrastructure sector,” Ewalefoh said.
He also highlighted ongoing reforms under the Tinubu administration, noting that they have repositioned the ICRC for greater efficiency.
“Under this leadership, the ICRC has streamlined PPP processes, raised approval thresholds to ₦20 billion and ₦10 billion for Ministries, Departments, and Agencies to fast-track smaller projects, and issued a regulatory framework with clear guidelines from project conception to completion,” he said.
Ewalefoh urged local and international investors to take advantage of the enabling environment to partner with the government in developing infrastructure in transportation, power, water, healthcare, and technology.
“Nigeria is open for business,” he said. “With the FATF delisting and our strengthened PPP framework, the conditions are right for a new wave of infrastructure investment that will reshape the economy.”
Source: Business Day
