Regulatory Alerts2023-05-22
2023 Nfiu Guidelines On Data Management Framework
The Nigerian Financial Intelligence Unit (NFIU) has released new policy guidelines for implementing the AML/CFT/CPF data management framework by competent authorities in Nigeria. These guidelines are designed to ensure the collection, maintenance, and reporting of accurate and timely statistics related to anti-money laundering, counter-terrorism financing, and counter-proliferation financing activities. The policy aims to enhance the effectiveness of these activities, support mutual evaluations and risk assessments, and strengthen the fight against money laundering and terrorism financing by establishing a centralized online data management framework, facilitating information sharing among relevant authorities, and monitoring performance.