Nigeria: Money Laundering

The increasing prominence of ESG considerations has materially altered global finance architecture, yet financial crime risk remains treated as a peripheral compliance concern.

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.

Nigeria's Central Bank has issued new Baseline Standards requiring financial institutions to implement automated anti-money laundering solutions capable of real-time detection and reporting of suspicious activity.

Nigeria's removal from the FATF Grey List and the European Commission's high-risk list marks a significant regulatory milestone, but sustaining compliance requires robust automated systems. The Central Bank of Nigeria has issued comprehensive Baseline Standards for Automated Anti-Money Laundering Solutions, establishing minimum functional, governance, and control requirements that all CBN-regulated financial institutions must implement within strict timelines. What specific capabilities must these systems s

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

The Nigerian Financial Intelligence Unit (NFIU) is Nigeria's central agency responsible for the receipt, analysis, and dissemination of financial intelligence relating to money laundering...

On April 17, 2025, the Central Bank of Nigeria (CBN), through a letter referenced CMD/DIR/PUB/LTI/001/001, reminded all banks, payment service banks and other financial institutions in Nigeria...

Remittances from Nigerians in the diaspora have become a significant contributor to Nigeria's foreign exchange earnings and Gross Domestic Product ("GDP").

The fight against money laundering and terrorist financing remains a critical priority for global financial systems.