November 25, 2022/CBN
In furtherance of efforts towards promoting compliance with Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing (AML/CFT/CPF) laws and regulations, the Central Bank of Nigeria (CBN) hereby issues this Guidelines for use by individuals and entities applying for licence to operate as banks or other financial institutions.
This Guidelines represents the minimum AML/CFT/CPF requirements for licensing of new financial institutions and should be read in conjunction with applicable AML/CFT/CPF laws, regulations and other CBN licensing requirements applicable to the institution-type for which the licence is sought.
The scope of this Guidelines covers both new and pending applications (including those awaiting final approval).
This circular takes immediate effect.