The Central Bank of Nigeria has ordered banks and other financial institutions to register with the Special Control Unit against Money Laundering, a department of the Economic and Financial Crimes Commission.
The measure, the bank said, was to ensure compliance with anti-money laundering regulations by Designated Non-Financial Institutions.
This was contained in a directive issued by the Director of Financial Policy and Regulation Department, CBN, Mr. Chris Chukwu.
Under the new arrangement, all financial institutions must register with the SCUML in line with the know-your-customer requirement for opening accounts for the DNFIs.
The directive entitled: ‘Additional know your customer requirement in respect of designated non-financial businesses and professions,’ with reference number: FPR/CIR/GEN/VOL.1.028 and dated August 2, 2012, was obtained by journalists in Abuja on Monday.
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