2023-01-13 | FPR/DIR/PUB/CIR/01/064

Guidance on Ultimate Beneficial Owners of Legal Persons and Legal Arrangements

The Central Bank of Nigeria issues guidance to financial institutions on identifying and verifying the beneficial owners of legal persons and arrangements to prevent money laundering and terrorist financing. This guidance assists institutions in understanding and mitigating these risks, emphasizing the importance of due diligence and reliable information sources. Compliance is expected with immediate effect.

Nigeria

Central Bank of Nigeria

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