Regulatory Alerts2025-06-01
Assessment of the Money Laundering and Terrorist Financing Risks in Nigeria’s Real Estate Sector
The Nigerian Financial Intelligence Unit (NFIU) and the Special Control Unit Against Money Laundering (SCUML) issued a sectoral risk assessment that classifies Nigeria’s real estate industry as medium-high risk for money laundering and terrorist financing. The report mandates enhanced customer due diligence, rigorous transaction monitoring, and strengthened internal compliance controls to address identified client profile vulnerabilities and cross-border exposure. Real estate operators must subsequently implement risk-based supervisory practices, improve data reporting to regulatory authorities, and collaborate across financial institutions to effectively mitigate identified vulnerabilities.
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