CBN AML/CFT/CPF Regulations 2022
- Issuing authority
- Central Bank of Nigeria (CBN)
- Effective date
- Issued in 2022 and currently in force.
- Scope
- Financial institutions under the regulatory supervision of the CBN. This includes commercial banks, merchant banks, non-interest banks, microfinance banks, payment service banks, bureaux de change, finance companies and payment service providers, among others.
Quick Summary
The CBN AML/CFT/CPF Regulations 2022 set the core financial crime compliance requirements for financial institutions supervised by the Central Bank of Nigeria. The Regulations require institutions to identify and assess their money laundering, terrorist financing and proliferation financing risks and maintain appropriate controls, including customer due diligence, transaction monitoring, suspicious transaction reporting, record keeping and internal AML/CFT/CPF programmes. They replaced the previous CBN AML/CFT Regulations 2013 and form part of Nigeria's wider AML framework alongside the Money Laundering (Prevention and Prohibition) Act 2022 and Terrorism (Prevention and Prohibition) Act 2022.
Who does it apply to?
- Banks
- Microfinance and other financial institutions
- Payment service providers
- Bureaux de change
- Other CBN-regulated financial institutions
What it means
The 2022 Regulations remain central to the CBN's AML/CFT/CPF framework, but additional requirements have been introduced since their adoption. In 2023, the CBN issued separate Customer Due Diligence Regulations, which expressly complement the 2022 Regulations and introduce additional CDD requirements for CBN-supervised financial institutions. In March 2026, the CBN introduced Baseline Standards for Automated AML/CFT/CPF Solutions, followed by implementation guidance. These establish minimum expectations for automated systems used by regulated institutions to detect, analyse and report suspicious financial activity. Nigeria's Money Laundering Act creates the broader legal framework, while the CBN Regulations translate many of those obligations into requirements specifically relevant to financial institutions under CBN supervision.