Business
THE Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to a current supervisory priority, as part of its ongoing commitment to protecting the Nigerian financial system from abuse by illicit actors.
This supervisory priority covers, at a high level, terrorism financing risk management, terrorism financing transaction monitoring, targeted financial sanctions implementation, and terrorism financing-related suspicious transaction reporting.
The bank will continue to apply a risk-based supervisory approach, including on-site and off-site engagement, to support effective AML/CFT/CPF controls across the financial sector in line with existing legal and regulatory obligations, a release by Hakama Sidi-Ali, acting director, Corporate Communications, CBN, said on Tuesday, September 8.
“This supervisory focus also supports Nigeria’s ongoing domestic and international cooperation on counter-terrorism financing, counter-proliferation financing, financial integrity, and the protection of the financial system,” it said.
CBN added that further supervisory engagement will be undertaken as appropriate.
A.I
Sept. 9, 2026
Tags: CBN Central Bank of Nigeria Hakama Sidi-Ali