The 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 conveyed in a letter dated May 20, 2025, with reference number BSD/DIR/CON/AML/018/033, and titled “Exposure of Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions – Request for Comments.”
The letter, signed by Olubukola Akinwunmi, director of banking supervision, was addressed to all financial institutions and outlines the regulatory expectations for modern AML compliance.