Regulatory Alerts2012-04-27 | FPR/DIR/CIR/AML/CFT/01/002Central Bank Of Nigerias Anti-Money Laundering/Combating The Financing Of Terrorism (AML/CFT)Risk Based Supervision (RBS) Framework, 2011
On December 6th, 2011, the Central Bank of Nigeria (CBN) issued the Anti-Money Laundering/Combating The Financing Of Terrorism (AML/CFT) Risk-Based Supervision (RBS) Framework and made amendments to the AML/CFT Regulation 2009. These actions were taken under Sections 57 and 65 of the Banks and Other Financial Institutions Act, with the aim of complementing the existing regulation and addressing changes in legislation such as sections 6(2)(c), 10(1) and 2(1) of Money Laundering (Prohibition) Act 2011 and section 14 of Terrorism (Prevention) Act 2011. The amendments to the Regulation were detailed in a subsequent Circular, which was also dated December 6th, 2011.
Extraordinary
Federal Republic Of Nigeria Official Gazette No. 120 Lagos - 6Th December, 2011 Vol. 98
Government Notice No. 270 The following are published as supplement to this Gazette : S.I. No. Short Title Page 43 Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Risk-based Supervision (RBS) Framework .. B 1173 44 Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Regulation, 2009 (as amended) .. .. B 1175
B 1171 Printed and Published by The Federal Government Printer, Lagos, Nigeria FGP 19/42012/650 (OL 111) Annual Subscription from 1st January, 2012 is Local : N25,000.00 Overseas : N37,500.00 [Surface Mail] N49,500.00 [Second Class Air Mail]. Present issue N1,000 per copy. Subscribers who wish to obtain Gazette after 1st January should apply to the Federal Government Printer, Lagos for amended Subscriptions.
B 1173 S. I. 43 Of 2011
Anti-Money Laundering/Combating The Financing Of Terrorism (Aml/Cft) Risk-Based Supervision (Rbs) Framework
[1st Day of December, 2011] Commencement.
In order to complement the Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) Regulation No. 79 of 2009 (as amended) and in the exercise of the powers vested in the CENTRAL BANK OF NIGERIA (the CBN) under Sections 57 and 65 of the Banks and Other Financial Institutions Act, Cap. B3 Laws of the Federation of Nigeria 2004 to make regulations and compound offences respectively, the CBN hereby issues the AML/CFT RBS Framework, 2011 (attached) which consists of AML/CFT RBS Manual for Bank Examiners' Procedures and AML/CFT Operations in Financial Institutions and the supervisory purview of the CBN.
MADE in Abuja this 1st Day of December, 2011.
MALLAM SANUSI LAMIDO SANUSI Governor, Central Bank of Nigeria
B 1175
S. I. 44 Of 2011 Anti-Money Laundering/Combating The Financing Of Terrorism (Aml/Cft) Regulation, 2009 (As Amended)
[1st Day of December, 2011] Commencement.
Subsequent to the issuance of the Regulation on the Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) Regulation No. 79 of 2009 and in the exercise of the powers vested in the CENTRAL BANK OF NIGERIA (the CBN) under Sections 57 and 65 of the Banks and Other Financial Institutions Act, Cap. B3 Laws of the Federation of Nigeria 2004 to make regulations and compound offences respectively, the Bank hereby amends sections 1.15.2, 1.18.3 and 1.18.1.2 of the Regulation under reference to comply with sections 6(2)(c), 10(1) and 2(1) of Money Laundering (Prohibition) Act (MLPA) 2011, and section 14 of Terrorism (Prevention) Act, 2011 as contained in the Circular attached.
MADE in Abuja this 1st Day of December, 2011.
MALLAM SANUSI LAMIDO SANUSI Governor, Central Bank of Nigeria