By providing reliable financial information, we protect Nigeria's financial system and contribute to the global fight against money laundering, terrorist financing and related crimes.
The Nigerian Financial Intelligence Unit (NFIU) is the central national agency responsible for receiving disclosures from reporting organizations, analysing those disclosures, and preparing the information for disclosure to relevant authorities.
The NFIU is an autonomous body within the Central Bank of Nigeria and the central coordinating body for the country's anti-money laundering, counter-terrorism financing, and counter-proliferation financing (AML/CFT/CPF) framework.
The establishment of the NFIU is a legal, regulatory, and operational framework to combat money laundering, terrorist financing, and proliferation financing, as set out in the 40 Recommendations of the Financial Action Task Force (FATF) based on global standards that facilitate the effective implementation of the measures.
Since 2007 the NFIU is also a member of the Egmont Group.Egmont Group is an informal network of 165 Financial Intelligence Units, providing a platform for the secure exchange of expertise and financial information to combat money laundering and terrorist financing.
To comply with Nigerian regulations, a Designated Service Compliance Program must include at least the following:
Developing written policies and procedures to guide the fight against financial crime, money laundering and terrorist financing.
Appointment of compliance officers.
Providing compliance education and training.
Creation of escalation procedures for reporting non-compliance.
Conducting inspections and audits.
Conducting an independent external audit.
The above-mentioned reporting will facilitate the analysis of information, including connection to and access to local and international databases to enrich Nigeria AML/CFT Compliance reports.
Furthermore, the resulting information reports are shared with law enforcement, anti-corruption, security and intelligence agencies, regulators and supervisors for further investigation and prosecution. Accordingly, these escalations effected by Nigeria reporting agencies are leveraging the AML/CFTCompliance in Nigeria and specifically the NFIU to:
Our clients are provided with a secure and simple solution in regard to scanning for politically exposed or high-risk individuals, as well as checking names against sanction, regulatory, law enforcement, and other official lists.
Use our sophisticated scan filters and due diligence workflow to minimise the amount of time you spend sorting through, false matches. Scan results and reporting sections allow you to access customer details, whenever and wherever required, as well as download reports, to customise for further investigation or to provide evidence of your AML program compliance for auditing purposes.
* This page is intended as general information only and should not be relied on as the sole source of information for your AML obligations and AML program. Please visit your local regulatory authority sites for the latest relevant and full information.