Regulatory Alerts2025-01-01
Mining Cadastre Office AML/CFT Market Entry Control Operational Manual
The Nigerian Mining Cadastre Office has formally adopted an operational manual mandating comprehensive Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML/CFT/CPF) market entry controls for all mineral title applicants. The manual requires licensing officers to conduct criminal background checks, screen applicants against UN and national sanctions lists, apply enhanced due diligence for Politically Exposed Persons, and verify beneficial ownership structures throughout the pre-licensing to expiration lifecycle. By standardizing these fit-and-proper person assessments and initiating targeted staff training, the MCO ensures that individuals and entities holding controlling interests in Nigeria’s mining sector are transparent, compliant, and resilient to financial crime risks.