Compliance
SCUML Seals Two Firms for Violating Money Laundering Act
The Special Control Unit Against Money Laundering (SCUML) has sealed the offices of Iman Multi Structures Ltd and Daraja Motors over breaches of...
Mystery Shopping: CBN Deploys Undercover Shoppers to Police Forex Dealers in AML/CFT Crackdown
To fortify Nigeria’s financial system against illicit activities, the Central Bank of Nigeria (CBN) has announced the immediate commencement of “mystery shopping” exercises...
CBN Issues Stern Warning on Sanctions Compliance, Threatens Enforcement
The Central Bank of Nigeria (CBN) has delivered a firm directive to all banks, payment service banks, and fintech companies operating within the...
PenCom Flags 26 States for Pension Non-Compliance, Workers at Risk
The National Pension Commission (PenCom) has issued a stern warning to 26 states and the Federal Capital Territory (FCT) for their continued failure...
Nigeria Customs Set to Launch E-Currency System
In a move aimed at fortifying Nigeria’s financial defenses, the Nigeria Customs Service (NCS) is poised to launch an electronic currency declaration system....
SEC to Publicly Name and Shame Capital Market Offenders in New Compliance Drive
The Securities and Exchange Commission (SEC) has announced a new stringent enforcement strategy that includes publicly naming and shaming capital market operators found...
SEC Cracks Down: Revokes Mainland Trust, Suspends Centurion
The Securities and Exchange Commission (SEC) has announced the revocation of Mainland Trust Limited’s registration and the suspension of Centurion Registrars Limited, along...
CBN Tightens Grip: Banks Face Stricter AML Compliance
In a bid to fortify Nigeria’s financial bulwark, the Central Bank of Nigeria (CBN) has amplified its commitment to rigorous regulatory compliance and...