Central Bank of Nigeria implements ‘sanctions screening' service to combat financial crime
Swift service helping banks meet global best practices to start in January
The Central Bank of Nigeria (CBN) is putting in place a ‘Sanctions Screening service' to ensure banks meet global best practices for financial crime compliance.
The move is a step towards realising Nigeria's Payment System Vision 2020 (PSV2020), which calls for a "nationally utilised and internationally recognised" payments system by the end of this decade.
The CBN wants commercial banks to implement the service by January 2015, and has created a special committee, comprising 15 people from the
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