30 results
- 19 Sept 2014
SERAP Demands Sanctions against FG over $9.3m Arms Cash
Socio-Economic Rights and Accountability Project (SERAP) has petitioned Mr. Roger Wilkins, president, the Financial Action Task Force (FATF), urging him to “urgently use your good offices and…
- 24 Oct 2025
FG Welcomes Nigeria’s Delisting from FATF Grey List
President Bola Tinubu has welcomed Nigeria’s delisting from the Financial Action Task Force (FATF) grey list. The FATF, which announced the delisting at its plenary in Paris, France, on Friday, is…
- 27 Oct 2025
SEC Says FATF Delisting will Boost Investor Confidence in Nigeria
Emomotimi Agama, Director General, Securities and Exchange Commission (SEC) has applauded Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing it as a clear reflection…
- 9 Apr 2025
Nigeria to Exit Grey List Soon – SEC
Nigeria may soon exit the Financial Action Task Force (FATF) grey list, Emomotimi Agama, director-general, Securities and Exchange Commission (SEC), has said. Emomotimi Agama, DG, SEC This is with…
- 1 Oct 2025
Nigeria, South Africa Set to Exit FATF Grey List
Nigeria and South Africa may be removed from the Financial Action Task Force (FATF) grey list as early as this month, a move expected to strengthen investor confidence in Africa’s two largest…
- 27 Apr 2022
Senate Outlaws Payment of Ransom to Kidnappers
The Senate on Wednesday passed a bill to make it criminal to pay ransom to kidnappers in Nigeria, saying this move is to “discourage the rising spate of kidnapping and abduction for ransom,” which it…
- 30 Aug 2013
NFIU to Sanction Banks over Money Laundering
Nigerian Financial Intelligence Unit (NFIU), yesterday, threatened to sanction financial institutions in the country, following their non-compliance with certain anti-money laundering provisions. Ms.…
- 10 Jul 2013
W/African Leaders Steal $300Bn from Treasuries’, Individuals
The West African sub-region is gaining notoriety as the money laundering capital of Africa with some $300 billion (about N45 trillion) reportedly siphoned by leaders and people entrusted with…
- 27 Oct 2019
Accuity, Union Systems Advocate for Higher Financial Crime Compliance Standard
The September General Meeting of the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) held recently in Lagos. The event which brings together compliance professionals and…
- 25 Nov 2024
Banks, Others Raise N2.7 Trillion from Capital Market - SEC
Securities and Exchange Commission (SEC) has disclosed that banks and other companies raised over N2.7 trillion from the capital market in recent times. The figure, which includes equity capital,…
- 1 Apr 2026
Rising Fraud Threatens Nigeria’s Digital Banking Gains — Experts
Nigeria’s fast-growing digital banking ecosystem is facing increasing scrutiny over consumer safety, as rising fraud cases and weak redress mechanisms threaten to erode public trust in the sector.…
- 26 Mar 2026
Kidnappers Now Use Banks to Collect Ransoms — Expert
Dr. Kabir Adamu, a security expert, has raised concern that kidnappers in Nigeria are now using banks to collect ransom payments. Pix... CNBC Adamu explained that in the past, kidnappers typically…
- 25 Jun 2025
NFIU Credits AML/CFT Reforms behind Nigeria’s Nears Exit from FATF Greylist
Nigerian Financial Intelligence Unit (NFIU) has credited a series of strategic reforms under the national Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing…
- 28 Jul 2025
FG Asks Banks to Report Individuals with N25m Monthly Transactions to FIRS
Federal government has mandated banks and financial institutions to begin reporting monthly transactions exceeding N25 million for individuals and N100 million for firms to the tax authorities. Under…
- 26 Apr 2018
CBN to Punish Banks, Directors for Money Laundering Offences
Central Bank of Nigeria (CBN) has reeled out new regime of sanctions which includes punishments for banks, their directors as well as huge fines against financial institutions found culpable of any…
- 11 Mar 2026
Fintechs Gear up to Combat Fraud as CBN Issues Directive on Fraud Detection Solution
The Central Bank of Nigeria (CBN) has directed banks and fintechs to implement automated systems to detect suspicious transactions to strengthen anti-money laundering (AML) and financial crime…
- 22 Jul 2026
FG Says Rumours, Fear, Can Crash Banks
Mr Taiwo Oyedele, minister of Finance and Coordinating Minister of the Economy, has warned that fear, rumours and misinformation could trigger instability in the banking sector if not properly…
- 13 Feb 2026
IGP Designates Banks National Security Asset, Orders Crackdown on Cyber Frauds
Kayode Egbetokun, inspector-general of Police (IGP), has declared Nigeria’s banking industry a strategic national asset, ordering an immediate intelligence-led crackdown on cybercriminal networks,…
- 29 Nov 2024
NFIU Seeks Advanced Technology to Combat Financial Crimes in Nigeria
The Nigerian Financial Intelligence Unit (NFIU) is ramping up efforts to combat financial crimes through advanced technology and enhanced collaboration as part of its drive to remove Nigeria from the…
- 6 Jun 2021
Foreign Banks aid $18Bn Corruption in Nigeria Annually- TI
Transparency International (TI) has alleged that international enablers headquartered in Beijing, Dubai, London and New York are parts of every single illicit transaction perpetrated in Nigeria,…
- 5 May 2023
Facctum Unveils Solution that Enables Banks Enhance Risk Detection
Poised to curb the unprecedented and regular internet -enabled financial crimes, Facctum, a risk tech company specialising in anti-financial crime solutions, is introducing its next generation…
- 12 Aug 2026
SEC Directs Operators to Subscribe to NigSac Alerts, Freeze Terrorists-Linked Funds
Securities and Exchange Commission (SEC) has issued an urgent directive requiring all capital market-regulated entities (CMREs) to immediately subscribe to Nigeria’s Sanctions (NigSac) Alerts system.…
- 22 May 2025
CBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
Central Bank of Nigeria (CBN) has directed all financial institutions to implement real-time transaction alert systems as part of enhanced anti-money laundering (AML) compliance. The directive was…
- 13 May 2014
CBN Chides Banks over Money Laundering
Dr. Sarah Alade, acting governor of the Central Bank of Nigeria (CBN), has linked banks to money laundering and other related crimes and accused them of aiding or abetting the crimes knowingly or…
- 30 Jun 2008
Security Operatives Seize $2.1Bn Fake eBay Cheques
Security agencies in Nigeria have intercepted counterfeit cheques, lottery tickets and eBay overpayment schemes worth over $2.1billion , Nigeria CommunicationsWeek investigations can reveal. United…
- 23 Oct 2023
CISLAC Says Nigeria Loses $18Bn Yearly to Illicit Financial Flows
Auwal Musa Rafsanjani, executive director, Civil Society Legislative Advocacy Centre (CISLAC), on Monday, expressed grave displeasure over the endemic corruption ravaging Nigeria which has led to…
- 13 Feb 2018
CBN Seeks Shell Banks Abolished In Nigeria
The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out…
- E-Financial16 Aug 2026
SEC Orders Capital Market Operators to Cut Banking, Business Ties with Iran, DPRK
Securities and Exchange Commission (SEC) has directed all capital market regulated entities to terminate correspondent banking relationships and restrict business dealings involving the Democratic People’s Republic of Korea (DPRK) and Iran.
- 26 Oct 2020
ICIJ Fingers Western Union, MoneyGram as Conduits to Launder Criminal Cash
International Consortium of Investigative Journalists (ICIJ) has uncovered how companies like Western Union and MoneyGram play a hidden role in laundering cash from around the globe. In May, the…
- 20 Oct 2024
Nigerian Banks Lost N42.6Bn to Fraud in Q2 2024
Fasasi Sarafadeen Atanda, national president, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) said Nigerian Banks lost N42.6b to fraudsters in Nigeria within the Q2 of 2024. Atanda…