We work with institutions across Nigeria’s financial sector, and with organizations outside it that face financial crime and fraud risk.
Industries we serve in Nigeria
Commercial and Merchant Banks
Commercial and merchant banks carry the broadest AML/CFT/CPF obligations under CBN supervision, with complex customer bases, correspondent relationships, and high transaction volumes.
How we help
Enterprise-wide risk assessments and program updates
Transaction monitoring and sanctions screening tuning
Correspondent banking due diligence and cross-border perspective
Examination readiness and remediation of CBN findings
Board and senior management reporting and training
Microfinance Banks
Microfinance banks serve customers who are often new to the formal financial system, which calls for due diligence that is both proportionate and effective.
How we help
Risk-based CDD and tiered KYC approaches
Policies and procedures sized to the institution
Monitoring and STR processes that fit available resources
Staff training for branch and field teams
Payment Service Banks
Payment service banks focus on financial inclusion through deposits and payments, often at high volume through agents and digital channels.
How we help
Agent network oversight and controls
Transaction monitoring for high-volume, low-value activity
Onboarding and identity verification controls, including BVN and NIN
Fraud risk assessment across channels
Fintechs and Payment Service Providers
Including switching and processing companies, payment solution providers, and mobile money operators. Fast growth, partner models, and real-time payments put pressure on compliance programs.
How we help
AML/CFT/CPF program design for new and growing licensees
Fraud detection strategy and rules review
Due diligence and oversight of merchants, agents, and partners
Technology selection and implementation for monitoring and screening
Bureaux de Change
Bureaux de change handle cash-intensive foreign exchange activity that regulators treat as higher risk for money laundering.
How we help
Customer identification and record keeping
CTR and STR processes
Risk assessments and policies
Compliance officer support and staff training
Capital Market Operators
Broker-dealers, fund and portfolio managers, issuing houses, and other SEC-registered operators must meet the SEC’s AML/CFT/CPF requirements.
How we help
Investor and beneficial ownership due diligence
Monitoring of account activity and third-party payments
Policies, procedures, and risk assessments
Readiness for SEC examinations
Insurance Companies
Insurers, particularly those offering life and investment-linked products, must meet NAICOM’s AML/CFT requirements.
How we help
Product and channel risk assessments
Due diligence on policyholders, beneficiaries, and payers
Red flag monitoring for surrenders, overpayments, and refunds
Policies, procedures, and training
Designated Non-Financial Businesses and Professions
DNFBPs, such as dealers in real estate, precious metals and stones, and high-value goods, as well as certain professional firms, have AML/CFT obligations under SCUML supervision.
How we help
Understanding which obligations apply to the business
Practical customer due diligence and record keeping
Reporting processes
Policies, procedures, and staff training
Corporates with Financial Crime and Fraud Exposure
Organizations outside the financial sector face fraud, bribery, sanctions, and third-party risks, and are often asked about their controls by banks and partners.
How we help
Fraud risk assessments and control design
Third-party and vendor due diligence
Sanctions screening approaches
Investigations support and training
Don’t see your institution type?
Tell us about your organization and what you need. We will let you know how we can help.
