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 is affecting the mental health of many in the field.
A 2024 Global Compliance Survey revealed that 47% of compliance officers experience regular anxiety tied to their roles. But what’s causing this wave of stress, especially in Nigeria and other African financial markets?
Let’s unpack the key reasons and what can be done about them.
1. Constantly Changing Regulations
In Nigeria, regulatory frameworks are in a state of near-constant evolution. The Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) regularly issue new directives, circulars, and guidelines.
Take for instance the 2025 Exposure Draft on Baseline Standards for Automated AML Solutions recently released by the CBN. It significantly raised the bar on Anti-Money Laundering (AML) expectations mandating intelligent, automated, real-time compliance systems. For compliance officers, each new regulation is more than an announcement it’s a ticking clock for implementation, often with limited guidance or transitional support.
💬 “I often find myself staying up late trying to interpret new circulars that don’t leave room for operational ambiguity,” said a compliance lead at a Tier 2 bank in Lagos.
2. Personal Liability and Enforcement Risks
In Nigeria’s financial sector, compliance failures are not just organizational issues, they’re personal. Regulatory bodies like the EFCC and NFIU have, in recent years, cracked down harder on individual accountability.
This has led to situations where compliance officers are personally questioned, suspended, or even detained for regulatory breaches that may have stemmed from larger systemic issues within the organization. This culture of “individual blame over institutional reform” creates fear and an always-on high-alert mindset.
3. Pressure from Internal Stakeholders
Another major source of anxiety stems from internal organizational pressure. In many Nigerian financial institutions, compliance teams often serve as the “voice of caution,” which pits them against aggressive sales, product, or executive teams that prioritize business growth over regulatory prudence.
This can lead to:
- Conflict with business units
- Undue pressure to approve questionable transactions
- Poor collaboration or outright hostility from colleagues
In such environments, compliance officers frequently feel isolated, underappreciated, and misunderstood further contributing to burnout and anxiety.
4. Lack of Technological Support
Despite increased regulatory expectations, many Nigerian institutions still rely heavily on manual, semi-automated compliance processes or inadequate Technological support..
For instance, Customer Due Diligence (CDD) and transaction monitoring in some mid-sized banks are still done using spreadsheets. This increases:
- Human error
- Time spent on mundane checks
- Missed red flags due to data overload
This lack of tech support means compliance officers are always playing catch-up, instead of focusing on strategic and proactive risk management.
Tools like Probe’s AI-assisted PEP & Sanctions Screening and real-time Transaction Monitoring can drastically reduce workload and improve accuracy giving teams room to breathe.
5. No Formal Mental Health Support
Unlike larger Western institutions, mental health support structures are almost nonexistent in many Nigerian workplaces. Very few financial institutions have in-house counselling, stress management programs, or burnout prevention initiatives targeted at their compliance teams—even though they’re among the most overworked units.
This makes many professionals suffer in silence, unsure of how to manage their anxiety, and with no safe space to speak up.
What Can Be Done?
1. Invest in Tech-Driven Compliance Tools
Automation and AI can help offload repetitive tasks and provide real-time risk alerts, freeing compliance officers to focus on high-level issues.
2. Push for Cross-Functional Collaboration
Fostering better internal communication between compliance and business teams reduces friction and lowers anxiety driven by internal politics.
3. Create Mental Health Awareness in Compliance Roles
Organizations should provide access to professional counselling and promote a culture that acknowledges and supports mental health especially in high-stress departments.
4. Regulators Must Support, Not Just Punish
While strict regulations are important, Nigerian regulators must also offer transition periods, practical toolkits, and training programs to reduce implementation panic.
Being a compliance officer in Nigeria today is no small feat. With the perfect storm of increasing regulation, limited tools, and personal accountability, it’s no surprise that nearly half of professionals in the field report experiencing anxiety but it doesn’t have to stay that way.
With the right technology, institutional support, and regulatory empathy, we can transform compliance from a source of burnout into a role of strategic empowerment.
Want to ease your compliance burden?
Let Probe help you stay compliant, reduce anxiety, and stay ahead of evolving regulations without losing sleep.