In Nigeria’s ever-evolving financial landscape, the fight against money laundering has become more than a regulatory obligation, it’s a battleground. From regulatory demands to institutional inertia, from technological gaps to cross-border pressures, the Anti-Money Laundering (AML) ecosystem is caught in…
In recent years, anxiety has become an increasingly common reality among compliance professionals across the globe and Nigeria is no exception. The ever-evolving regulatory landscape, pressure from regulators, and heightened expectations from internal stakeholders have created a high-stress environment that…
In May 2025, the Central Bank of Nigeria (CBN) released a pivotal update: the Exposure Draft on Baseline Standards for Automated AML Solutions. It’s not business as usual anymore. The CBN is redefining what it means to be AML-compliant and…
Picture this – Luxury real estate agent Chinonso, eager to close a multimillion-naira deal, helps a foreign buyer purchase several high-end properties with funds wired from offshore accounts. Unknown to him, these funds have come through a series of shell…
Despite significant regulatory efforts, money laundering and terrorism financing remain a major threat to Nigeria’s financial sector. According to Statista, Nigeria’s risk index for money laundering and terrorist financing averaged 6.9 out of 10 between 2018 and 2023, indicating a…
In today’s ever-evolving financial and regulatory landscape, compliance has become more than just a legal checkbox. It is now a fundamental pillar of any business striving to thrive and build trust in its ecosystem. This is particularly true in Nigeria,…
Effective compliance is a cornerstone of any successful financial institution or business operating within regulated environments. One critical tool that aids in meeting Anti-Money Laundering (AML) requirements is GoAML, a software developed by the United Nations Office on Drugs and…
The Securities and Exchange Commission (SEC) in Nigeria plays a pivotal role in regulating and overseeing the financial market. It is responsible for ensuring the transparency, integrity, and accountability of organizations under its jurisdiction. As part of these responsibilities, the…
