On November 23, 2022, the Central Bank of Nigeria (CBN) issued the Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation of Weapons of Mass Destruction (AML/CFT/CPF) Guidelines for Licensing of Banks and Other Financial Institutions (the Guidelines). The Guidelines were issued further to the CBN’s effort to promote compliance with AML/CFT/CPF laws among financial institutions and state minimum AML/CFT/CPF compliance requirements for promoters of financial institutions.
Our FAQs below briefly explain the objectives of the Guidelines and set out salient provisions of the Guidelines
