Regulatory Alerts2010-01-01
Bank of Zambia Circular 03/2010 on Nigerian Transaction Clearing Platform
The Bank of Zambia issued Circular 03/2010 to inform commercial banks about the Nigerian Transaction Clearing Platform established by the EFCC. This platform assists individuals and companies in verifying the authenticity of business proposals and checking the track records of counterparties to mitigate risks from scams and impersonation. The circular instructs banks to share this information with other institutions and clients to enhance due diligence practices.
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