Nigerian Financial Intelligence Unit (NFIU)
Nigeria's financial intelligence unit. It receives, analyses, and disseminates suspicious transaction reports to law enforcement and competent authorities.
Africa · Country coverage
AML/CTF Compliance in Nigeria
Nigeria regulates AML/CTF through the Nigerian Financial Intelligence Unit under the Money Laundering (Prevention and Prohibition) Act. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Nigeria
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUNigerian Financial Intelligence Unit (NFIU)
FATF statusGIABA member
Primary legislationMoney Laundering (Prevention and Prohibition) Act, 2022
Overview
AML/CTF compliance in Nigeria.
Nigeria regulates money laundering and terrorist financing through the Money Laundering (Prevention and Prohibition) Act 2022, supported by the Nigerian Financial Intelligence Unit, which receives and analyses suspicious transaction reports.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the NFIU, alongside supervision from the Central Bank of Nigeria. Supervisors expect a designated compliance officer, sound internal controls, and staff training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Money Laundering (Prevention and Prohibition) Act 2022
Nigeria's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and designated non-financial businesses.
Central Bank of Nigeria
The CBN supervises banks and other licensed financial institutions for AML/CTF compliance, working alongside the NFIU.
GIABA membership
Nigeria is a member of the Inter-Governmental Action Group against Money Laundering in West Africa, a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious transactions to the NFIU
- Conduct ongoing monitoring of customer relationships
- Maintain internal controls and a compliance officer
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Nigeria?
The Nigerian Financial Intelligence Unit (NFIU) receives and analyses suspicious transaction reports, while the Central Bank of Nigeria supervises banks and other licensed financial institutions for AML/CTF compliance.
What is the main AML law in Nigeria?
The Money Laundering (Prevention and Prohibition) Act 2022 sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities in Nigeria.
Is Nigeria a member of FATF?
Nigeria is a member of GIABA, the FATF-style regional body for West Africa, and aligns its AML/CTF regime with the FATF 40 Recommendations through that membership.
How does MemberCheck support AML compliance in Nigeria?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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