Nigeria · Nigeria SEC
SEC Nigeria Capital Market Operators AML/CFT Regulations 2022
RegulationIn Force
- Issuing authority
- Securities and Exchange Commission (SEC) Nigeria
- Effective date
- In force 2022; updated to align with MLPPA 2022
- Scope
- Securities and Exchange Commission (SEC) Nigeria
Key requirements
AML rules for Nigeria's capital market: stockbrokers, fund managers, investment advisers, custodians and trustees registered with SEC. Covers customer due diligence, enhanced due diligence for high-risk customers, PEP screening, transaction monitoring and STR filing to NFIU. Now also covers crypto firms. SEC has classified digital assets as securities and is bringing crypto-asset service providers (CASPs) under its AML supervision. If you work in or advise a Nigerian fund, stockbroker or crypto firm, these are your rules.