Nigeria · Nigeria CBN
CBN AML/CFT/CPF Regulations 2022 (as amended)
RegulationIn Force
- Issuing authority
- Central Bank of Nigeria (CBN)
- Effective date
- In force since 2022; aligns with Money Laundering Act 2022
- Scope
- Central Bank of Nigeria (CBN)
Key requirements
The rulebook for Nigerian banks, payment service providers, microfinance banks and other CBN-regulated institutions. Tells them exactly how to do customer due diligence (CDD), apply enhanced due diligence (EDD) for high-risk customers, screen for politically exposed persons (PEPs) and sanctions, monitor transactions and file Suspicious Transaction Reports (STRs) to NFIU. Also covers proliferation financing (funding for weapons of mass destruction). Aligns Nigerian banking AML with FATF Recommendations and supports Nigeria's path to FATF grey list exit.