The regulatory landscape for Anti-Money Laundering (AML) in Nigeria continues to evolve. With the CBN, NDIC and EFCC intensifying oversight, financial institutions must stay ahead of compliance requirements or face significant penalties.
Key Regulatory Updates
The CBN has issued new guidelines that expand the scope of covered institutions and strengthen due diligence requirements. Key changes include enhanced customer due diligence (CDD) for politically exposed persons (PEPs), mandatory transaction monitoring thresholds, and stricter timelines for suspicious transaction report (STR) submissions.
What This Means for Your Institution
Compliance is no longer just about ticking boxes. Regulators expect institutions to demonstrate a culture of compliance with robust systems, trained staff, and auditable processes. Our AML platform is designed to meet these exacting standards.
Contact us to schedule a compliance gap analysis and ensure your institution is ready for the 2026 regulatory environment.