Politically Exposed Person’s guidelines The Central Bank of Nigeria (CBN) has issued stringent guidelines to banks, aiming to prevent politically exposed individuals and entities from using the banking system to launder illegally sourced funds. In their circular titled “Guidance Note … Read More
CBN’s Latest Guidelines on Customer Due Diligence: What You Need to Know
CBN Customer Due Diligence Rule The Central Bank of Nigeria (CBN) has implemented new regulations regarding customer due diligence, aiming to combat financial crimes and enhance compliance with anti-money laundering and counter-terrorism financing standards. Hence, these regulations are known as … Read More
Revolutionary Cash Redesign Takes Nigeria by Storm with DMBs and Super Agents
The Central Bank of Nigeria (CBN) has taken steps to ensure the successful implementation of its Naira Redesign policy by launching a cash swap program in partnership with Super Agents and Deposit Money Banks (DMBs). The program is aimed at … Read More
New Naira Notes Policy – CBN.
The Central Bank of Nigeria (CBN) has recently introduced a new Naira note as part of its efforts to combat counterfeiting and improve the overall security of the country’s currency. The new note features advanced security features such as a … Read More
