In Nigeria’s financial and insurance sector, one of the biggest challenges companies face is how to verify and onboard customers quickly while staying compliant with regulations. The process often involves multiple checks from confirming a customer’s identity to making sure…
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 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…
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…
