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Nigeria: Baseline standards for automated anti-money laundering solutions

Progress

Current status
adopted
10 Mar 2028 in force
10 Mar 2026 adopted
13 Jun 2025 processing consultation
20 May 2025 in consultation

Scope

Implementers
Nigeria
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
ML and AI development
other service provider
Government Branch
executive
Government Body
central bank
central government
Implementation Level
national

Timeline of events

10 Mar 2028
in force

Baseline standards for automated anti-money laundering solutions for financial institutions enter into force

On 10 March 2028, the baseline standards for automated anti-money laundering solutions for financial institutions enter into force. The standard applies to all CBN-regulated financial institutions, mobile money operators, and payment service provide…

Source
Event type order
Action type implementation
Government branch executive
Government body central bank
10 Mar 2026
adopted

Central Bank of Nigeria adopted baseline standards for automated anti-money laundering solutions for financial institutions

On 10 March 2026, the Central Bank of Nigeria (CBN) adopted the baseline standards for automated anti-money laundering solutions for financial institutions. The standard applies to all CBN-regulated financial institutions, mobile money operators, an…

Source
Event type order
Action type adoption
Government branch executive
Government body central bank
13 Jun 2025
processing consultation

Central Bank closes consultation on Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions

On 13 June 2025, the Central Bank of Nigeria closes its consultation on the Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions. The standards aim to promote interoperability and integration between anti-money laundering (AM…

Source
Event type order
Action type consultation closed
Government branch executive
Government body central government
20 May 2025
in consultation

Central Bank opened consultation on Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions

On 20 May 2025, the Central Bank of Nigeria opened a consultation on the Draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions, until 13 June 2025. The standards aim to promote interoperability and integration between anti-mon…

Source
Event type order
Action type consultation opened
Government branch executive
Government body central government