CBN Establishes Compliance Department to Combat Money Laundering and Cybersecurity

The Central Bank of Nigeria (CBN) has introduced a Compliance Department to enhance oversight in combating money laundering and cybersecurity risks in the financial sector. The department, operational from Q2 2025, aims to strengthen regulatory effectiveness and focus on emerging risks.

It will oversee financial crime supervision, market conduct supervision, enterprise security supervision, and ESG supervision. The move is part of the CBN's broader efforts to consolidate regulatory effectiveness and clarify institutional responsibilities.

This initiative underscores the apex bank's commitment to maintaining a secure and compliant financial environment in Nigeria.