CBN Elevates Terrorism Financing Supervision As Current Priority
The bank said it will focus on risk management, transaction monitoring and sanctions enforcement to support anti-money laundering controls across the sector.
- On Tuesday, The Central Bank elevated terrorism financing supervision to a top priority, with Acting Director of Corporate Communications and Investor Relations Hakama Sidi-Ali announcing the measure to protect the Nigerian financial system.
- Under the heightened supervisory focus, the bank mandates terrorism financing risk management, transaction monitoring, implementation of targeted financial sanctions, and reporting of suspicious transactions linked to terrorism.
- To support effective AML, CFT, and CPF controls, the CBN continues to apply a "risk based supervisory approach," including both on-site and off-site engagement across the financial sector.
- Strengthening Nigeria's financial integrity at domestic and international levels is the core objective, as the move supports ongoing cooperation in CFT and CPF efforts.
- According to the CBN, implementation of these measures will occur in accordance with existing legal and regulatory obligations, and further supervisory engagement will be undertaken as appropriate.
12 Articles
12 Articles
CBN makes terrorism financing supervision major priority
The Central Bank of Nigeria (CBN) has made terrorism financing supervision a major priority as it intensifies efforts to protect the country’s financial system from illegal activities. In a statement signed by its Acting Director of Corporate Communications and Investor Relations, Hakama Sidi-Alli, the apex bank said the new focus would cover “terrorism financing risk […] CBN makes terrorism financing supervision major priority
CBN tightens surveillance on banks over terrorism financing
The Central Bank of Nigeria has intensified surveillance on banks and other financial institutions over terrorism financing risks as part of efforts to prevent the country’s financial system from being exploited by illicit actors. The apex bank said terrorism financing supervision had been elevated to a current supervisory priority, with greater attention to transaction monitoring, Read More: https://punchng.com/cbn-tightens-surveillance-on-bank…
CBN Makes Terrorism Financing Oversight a Priority
The Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to a current supervisory priority as part of its efforts to protect the… The post CBN Makes Terrorism Financing Oversight a Priority appeared first on Latest Breaking News - News Central TV.
CBN Takes Tougher Action Against Terrorism Financing - NewsTmes.com.ng
The Central Bank of Nigeria (CBN) has stepped up regulatory surveillance of banks and other financial institutions as part of a tougher strategy to prevent the country’s financial system from being used to fund terrorism and other illicit activities. This was just as the apex bank said it had elevated terrorism financing supervision to a …
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