The Central Bank of Nigeria has reinforced its regulatory oversight to bolster the resilience and transparency of the country’s financial system, reaffirming its commitment to strict compliance and risk management across financial institutions.
According to a statement from the apex bank on Sunday, the CBN reaffirmed its commitment at a Mandatory Compliance and Anti-Money Laundering Training Workshop held in Lagos on February 28, 2025.
The event, organised in collaboration with Citi, brought together compliance officers, trade operations specialists, and correspondent banking teams from various financial institutions to discuss global regulatory trends, financial risks, and strategies for maintaining robust compliance frameworks.
The statement read in part, “The Central Bank of Nigeria has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions.”
Special Adviser to the CBN Governor on Compliance, Shola Phillips, stressed the need for Nigerian financial institutions to align with international banking standards to maintain confidence in the sector, the statement noted.
She said regulators expect financial institutions to operate dynamic, risk-based anti-money laundering and counter-financing of terrorism programmes that can adapt to an evolving financial environment.
