Speaking on a televised programme, Agama described the delisting as a “welcome call to new investments” and a clear indicator of Nigeria’s improved anti-money-laundering (AML) and counter-terrorist-financing (CTF) frameworks.

He said the decision sends a strong message to global investors and trading partners that Nigeria’s financial system is becoming more transparent and trustworthy.

The delisting follows the country’s implementation of a 19-point FATF action plan and marks the culmination of years of regulatory reform by agencies including the Nigerian Financial Intelligence Unit (NFIU).

Agama acknowledged the roles of the NFIU, the National Security Adviser’s office, the Federal Ministries of Finance and Budget, and the Judiciary in achieving this outcome.

Why This Matters for Tech and Finance

• Lower funding costs & faster flows: Delisting is expected to ease cross-border payments, reduce global risk premiums and make foreign capital more accessible for Nigerian fintechs and tech firms.
• Enhanced credibility: Tech companies, especially those in fintech, data services and digital payments, gain a stronger regulatory backdrop when raising capital or forming partnerships abroad.
• Growth-enabling environment: With improved institutional backing, Nigeria stands to benefit from renewed investor appetite – particularly in infrastructure, fintech innovation and digital transformation.
• Operational clarity: Global partners and platforms can operate with more confidence, given that regulatory risk has been reduced in the AML/CTF dimension.

Outlook & Next Steps

While the delisting is important, Agama noted that the real test lies in consistent enforcement and sustaining regulatory gains.

As Nigeria moves to leverage this milestone, the onus will be on institutions to maintain high standards of compliance, and on the private sector to capitalize on the improved environment.

For tech-driven businesses, especially those operating in fintech, payments, data and cross-border services, this development reaffirms Nigeria as a viable investment destination, the regulatory cloud has lifted, and a clearer path to growth lies ahead.

[Sources: ThisDayLive+1 | Reuters]

This will be the high point at the 3rd National Conference being put together by Oriental News Nigeria, coming up on July 25th , 2024, at Radisson Blue GRA Ikeja, Lagos at 9am.

Oriental News Nigeria a leading digital media platform would gather key policy makers, Government and non Governmental Organisations, industry experts in Nigeria’s financial sector to the conference which revolves around Nigeria’s Green Economy Initiative.

The theme of the 2024 Conference: ” Green Economy, Sustainable Growth and Infrastructure Transformation” considers various options available for Nigeria to sustain economic development and growth.

Sub-themes of the conference include, Green Finance, marketing, and supply chain, Strategies and Policies for a green economy, Renewable energy  and Ecosystem for a green economy and Digital economy Entrepreneurship.

Agama, who has confirmed his attendance, expressed the belief that opportunities in terms of green economy are linked to the enormous possibilities for sustainable agriculture, renewable energy, ecotourism, and coastal development.

Also, other stakeholders have highlighted that Nigeria’s commitment to harnessing its natural resource potential could make the country a pioneer in promoting green economy development, hence the choice of the theme of the conference.

The conference, according to Yemisi Izuora, the publisher, Oriental News Nigeria Online, is segmented into two main broad areas, with the opening programme to address the key thematic topic through the guest speakers’ intervention and chairmans remarks with comments from participants which centers around the conference theme.

The second segment is round-table discussion through wider engagement by select professionals to discuss the main theme and sub-themes of the conference.

In recent years, economies all around the world have been experiencing a protracted slowdown driven by structural, global, and cyclical factors.

Economic strategies that have been implemented to tackle recession and achieve rapid economic development have endangered sustainable growth by contributing to environmental degradation, global warming, and other negative repercussions.

Changing the paradigm to a green economy will boost natural capital stocks, safeguard the environment, and ensure social justice by providing practical tools and approaches to achieve sustainable growth while reducing environmental risks and ecological scarcities.

A transition to a green economy, however, faces challenges such as a lack of an appropriate policy framework, inadequate capital expenditure, varying levels of development, and resource endowments.

Therefore, for green sustainable development, newer business models, strategic changes and innovation in the use of resources, responsible and cleaner business practices, and green technologies are needed.

The conference will draw together and engage researchers, eminent practitioners, and policymakers from across the country who will form part of the plenary (Round-Table) session that will deliberate on the latest findings on practices and policies for a green economy and sustainable growth through strategic change and identify priorities for action by stakeholders to pursue the most promising policies and practices.

The conference will also serve as a venue where academic peers may exchange information, share experiences, collaborate, and develop management answers to pressing business issues.