Even as banks around the world are reducing their correspondent banking relationships, focusing in particular on high-risk jurisdictions, de-risking in Africa is said to have significantly reduced as correspondent banks have begun to open relationships. The Guardian learnt that as the level of de-risking has reduced, statistics shows that four out of five banks are…

To avoid sanctions on financial transactions by the United States government, Nigerian banks and other financial institutions have been urged to increase their standards on compliance for national security.

The Compliance Institute of Nigeria (CIN), is entering into a strategic partnership with the Association of Certified Anti-Money Laundering Specialists (ACAMS) of Florida, United States of America, with a view to enhancing the value of its certification. The Guardian learnt that the partnership would provide members with a wide range of compliance professional resources at…

Experts in anti-moneylaundering matters have lauded the establishment of Compliance Institute of Nigeria (CIN) address capacity gaps and promote best practice standards for compliance profession. They submitted that the CIN would contribute to deepening compliance for effective implementation of Anti-Money Laundering and Combating the Financing of Terrorism standards (AML/CFT) preventive measures, within the financial services…