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Does the CBN AML Framework apply to my business?

CBN AML Framework

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Written by Ibukun
Updated over a month ago

Yes, the provisions outlined in the Central Bank of Nigeria (CBN)’s Exposure Draft on Automated Anti-Money Laundering (AML) Systems specifically apply to all businesses offering financial services.

This includes commercial banks, microfinance banks, fintechs, and other regulated financial entities.

If your business falls into any of these categories, compliance with the new framework is mandatory.

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