Regulatory Alerts2022-11-28
guidance On Money Laundering, Terrorist Financing And Proliferation Financing Vulnerabilities In Free Trade Zones
The Nigerian Financial Intelligence Unit (NFIU) has issued guidance on money laundering, terrorist financing, and proliferation financing vulnerabilities in Free Trade Zones (FTZs). This guidance is for all FTZ Authorities in Nigeria, the Nigeria Customs Service, the Central Bank of Nigeria (CBN), and reporting entities. The NFIU aims to assist FTZs and relevant parties in understanding these vulnerabilities, building on international knowledge of associated risks and to put in place measures to prevent the zones from becoming channels for facilitating criminal activities.