09-462-35439 ofid@cenbank.org CENTRAL BANK OF NIGERIA Other Financial Institutions Supervision Department 33, Tafawa Balewa Way, Central Business District P. M. B. 0187 Garki, Abuja.

May 2, 2017 Ref: Ofisd/Dir/Cir/Gen/17/128

LETTER TO ALL OTHER FINANCIAL INSTITUTIONS (OFIs) ON RENDITION OF RETURNS ON ANTI-MONEY LAUNDERING AND COMBATTING FINANCING OF TERRORISM (AML/CFT) The Central Bank of Nigeria has observed with concern the general low level of rendition of AML/CFT returns by OFIs, contrary to regulatory requirement. This has hampered supervisory efforts to effectively assess and mitigate money laundering risks in the industry.

It will be recalled that the CBN had issued a circular Ref: FPR/DIR/CON/BOF/01/036 dated 12th August, 2012 requiring all banks and other financial institutions under its purview to render various AML/CFT returns in prescribed formats and at appropriate periods in line with extant AML/CFT laws and regulations.

For the avoidance of doubt, it must be reiterated that the relevant provisions of the Money Laundering Prohibition Act 2011 (as amended) and CBN AML/CFT Regulations, 2013, require Banks and Other Financial Institutions (OFIs) to render various returns to the CBN and Nigeria Financial Intelligence Unit (NFIU). These returns include:

Type of Return	Rendered To	Time/Frequency
S/N
1	Currency Transaction Reports	NFIU	Within 7 days
(CTRs)
2	Suspicious	Transaction	NFIU	Within 24 Hours
Reports (STRs)
3	Foreign Currency Transaction	CBN and NFIU	Within 7 days
Reports (FTRs)
4	Risk Assessment Report	CBN	Monthly
5	Politically	Exposed	Persons	CBN and NFIU	Monthly
(PEPs)
6	Annual	Employee	Education	CBN and NFIU	Annually
and Training Program

7	Compliance	with	Employee	CBN and NFIU	Quarterly
Training Program
8	Monitoring	of	Employee	CBN	Semi-annually (June
Conduct	and December every
	year)
9	Three Tiered KYC	CBN and NFIU	Quarterly
10	Testing for the Adequacy of	CBN and NFIU	Annually
AML/CFT Compliance

All OFIs are therefore required to render regular returns as highlighted above in the attached formats. Explanatory Notes have also been attached to facilitate understanding and ease completion and rendition of the returns.

The returns should be submitted electronically to the following e-mail addresses on or

S/N	E-MAIL ADDRESS	OFI TYPE
1	mfbamlreturns@cbn.gov.nq	Microfinance Banks (MFBs)
2	pmbbamlreturns@cbn.gov.nq	Primary Mortgage Banks (PMBs)
3	dfiamlreturns@cbn.gov.ng	Development Finance Institutions
	(DFIs
4	fcamlreturns@cbn.gov.nq	Finance Companies (FCs)
5	bdcamlreturns@cbn.gov.nq	Bureaux De Change (BDCs)

before the 14th day after the end of every reporting month:
Where there is no report to be filed in a given reporting period, a NIL return shall be rendered.

Please note that failure to render statutory returns and comply with regulatory directives will attract appropriate sanctions including the revocation of operating licence.

For inquiries or further clarifications, please contact Mr. Haruna Bala Mustafa at hbmustafa@cbn.gov.ng or Ahmed Shehu at sahmed5@cbn.gov.ng. Please be guided accordingly.

'Tokunbo Martins (Mrs.)
Director, Other Financial Institutions Supervision Department