Regulatory Alerts2022-12-22 | FPR/DIR/PUB/CIR/001/064Added · Updated
Guidance on Targeted Financial Sanctions Related to Terrorism and Terrorism Financing
The Central Bank of Nigeria has released guidelines for financial institutions to implement targeted financial sanctions related to terrorism and terrorism financing. The guidelines outline obligations for financial institutions, including screening customers and transactions against sanction lists, freezing assets, and reporting requirements. Non-compliance with the regulations will result in administrative sanctions.