MENA & Africa · Nigeria CBN
CBN AML/CFT/CPF Regulations 2022 (as amended)
RegulationIn Force
- Issuing authority
- CBN administrative sanctions; criminal penalties under MLPPA 2022
- Effective date
- In force since 2022; Money Laundering (Prevention and Prohibition) Act 2022 in force
- Scope
- CBN administrative sanctions; criminal penalties under MLPPA 2022
Key requirements
Nigeria's AML framework significantly reformed following the country's path to FATF grey list exit. The Money Laundering (Prevention and Prohibition) Act 2022 replaced earlier legislation; CBN's regulations apply to banks and financial institutions. Nigeria was removed from the FATF grey list in October 2025 after substantial reforms. Particularly important for anyone doing cross-border business with Nigeria's growing fintech sector.