The Central Bank of Nigeria (CBN) has reaffirmed its commitment to strict compliance and risk management across financial institutions.
This was disclosed at a Mandatory Compliance and Anti-Money Laundering Training Workshop held in Lagos, the CBN reaffirmed its commitment
The training was attended by compliance officers, trade operations specialists, and correspondent banking teams from various financial institutions where global regulatory trends, financial risks, and strategies for maintaining robust compliance frameworks was discussed.
Special Adviser to the CBN Governor on Compliance, Shola Phillips stated thus:
“The Central Bank of Nigeria has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions.”
“Regulators expect financial institutions to maintain dynamic, risk-based AML/CFT programmes that are responsive to the evolving financial environment. Proactive engagement with regulatory developments and the integration of innovative compliance solutions are essential for institutions to meet these expectations effectively.”
The CBN is also enhancing regulatory frameworks, adopting digital compliance solutions, and strengthening monitoring mechanisms to combat money laundering and financial crimes.