CBN Sanctions 4 Banks For Money Laundering   The Central Bank of Nigeria and Financial Reporting Council of Nigeria sanctioned four commercial banks between January and June for various infractions, our correspondent has learnt. It was learnt that the apex bank imposed a number of sanctions on...

Money Laundering: BDC Operators Advised To Embrace Self-regulation The Central Bank of Nigeria has urged Bureaux de Change operators in the country to embrace effective self-regulation in order to strengthen the fight against money laundering. The CBN Deputy Director, Other Financial Institutions Supervision Department, Mustafa Haruna,...

Money Laundering: 31 Akwa Ibom LG Councils Battle Federal Government Over Guidelines   Thirty-one Local Government Councils in Akwa Ibom State and the Attorney-General of the state have approached the Federal High Court sitting in Uyo, Akwa Ibom State, to give an order of interlocutory injunction...

EFCC, ABCON Sensitise Currency Dealers Against Money Laundering   The Economic and Financial Crimes Commission (EFCC) and the Association of Bureaux De Change Operators of Nigeria (ABCON) have taken the campaign against money laundering and terrorism financing to Bureaux de Change (BDC) operators at the Murtala...

PenCom: We'll Fight Money Laundering Through Pension Accounts   As part of the efforts to prevent workers from using their pension accounts for money laundering, operators will begin to investigate workers who make voluntary contributions of N5m and above into their Retirement Savings Accounts. The National Pension...