CBN shifts anti-money laundering compliance deadline for Nigerian banks

The Central Bank of Nigeria, CBN, has extended the deadline for Nigerian fiscal institutions to comply with its caller baseline standards for automated anti-money laundering, AML, solutions.

The apex slope made this known successful a circular issued connected Tuesday. The circular was signed by Akinwunmi Olubukola, Director of the Banking Supervision Department, alongside Olubunmi Ayodele-Oni, connected behalf of the Director of the Compliance Department.

According to the circular, deposit wealth banks are required to execute afloat compliance wrong 18 months, portion different fiscal institutions person been fixed 24 months, starting from March 10, 2026.

The directive stated that implementation of the guidelines takes effect instantly from the day of issuance, with institutions expected to taxable their implementation roadmaps to the Compliance Department wrong 3 months.

“The implementation of these guidelines shall commence from the day of issuance, portion afloat compliance shall beryllium 18 months for deposit wealth banks and 24 months for different fiscal institutions,” the circular stated.

It further urged each stakeholders successful Nigeria’s fina...