Fraud has evolved beyond traditional boundaries, leveraging digital finance and global commerce to enable sophisticated cross-border crimes that can be executed remotely in minutes. Modern fraudsters exploit technological advances and interconnected financial systems to move stolen funds across jurisdictions with unprecedented speed and anonymity.

On November 23, 2022, the Central Bank of Nigeria (CBN) issued the Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation of Weapons...

The Economic and Financial Crimes Commission (EFCC) ought not to have been in existence.

At the just concluded Financial Action Task Force ("FATF") Plenary meeting held between the 22nd and 24th of October 2025, Nigeria, alongside other African nations Burkina Faso...

The European Union (‘EU') has removed Nigeria from its list of high-risk third countriesfor money laundering and terrorism financing.

The Financial Action Task Force (FATF) has officially removed Nigeria from its Grey List, signaling renewed international confidence in the country's efforts...

The Central Bank of Nigeria in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015...

The Pan-African Payment and Settlement System (PAPSS), launched in January 2024, is a centralized payment infrastructure designed to facilitate faster and more cost-effective cross-border trade transactions in local African currencies. It was adopted as a key mechanism to support the implementation of the African Continental Free Trade Area (AfCFTA).

Nigeria's recent removal from the Financial Action Task Force (FATF) Grey List marks a significant milestone in the country's efforts to strengthen its anti-money laundering (AML)...

The Federal Government of Nigeria, on 8 October 2018, signed a new Executive Order 008 (Order) backing the implementation of the Voluntary Offshore Assets Regularisation Scheme (VOARS or the Scheme), aimed at combating money laundering and tax evasion.

The Pan-African Payment and Settlement System (PAPSS), launched in January 2024, is a centralized payment infrastructure designed to facilitate faster and more cost-effective cross-border trade transactions...

The plague and scourge of illicit financial transactions have, over time, caused significant damage to the world at various points in history.

Nigeria's white-collar crime and investigations landscape underwent significant transformation in the first half of 2026, marked by intensified enforcement actions and comprehensive regulatory reforms.

On March 24, 2026, the Central Bank of Nigeria (CBN) issued a circular on Measures to Further Deepen Diaspora Remittances and Compliance (the “Circular”).

At the October 2025 plenary meeting of the Financial Action Task Force ("FATF") in Paris, Nigeria, alongside South Africa, Mozambique and Burkina Faso, was officially removed...

This month, we examine pertinent guidelines issued by the Central Bank of Nigeria (the "CBN") to players in the financial services sector. We have highlighted these key updates and their impact on the relevant stakeholders.

On the 13th of December 2024, the Nigeria Financial Intelligence Unit ("NFIU") issued Guidelines for the Identification, Verification and Reporting of Suspicious Transactions...

The Central Bank of Nigeria ("CBN") in 2022 issued the CBN (Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction...

The Central Bank of Nigeria has issued new guidance establishing procedures for Bureau De Change operators to purchase foreign exchange through authorized dealer banks in the Nigerian Foreign Exchange Market. What obligations must BDC operators and dealer banks fulfill to ensure compliance, and what penalties await those who fail to meet these regulatory requirements?

With the increasing need to ensure financial security in today’s rapidly digitizing landscape and evolving compliance demands, the Central Bank of Nigeria (CBN)...