Nigeria Launches ISO Standard to Strengthen Anti-fraud Framework

Nigeria has introduced a significant ISO Fraud Control Management Systems standard in partnership with the British Standards Institution (BSI) to strengthen the country's anti-fraud framework. The launch of this landmark framework aims to enhance business integrity, transparency, and global investor confidence by demonstrating Nigeria's commitment to combating fraud and building a robust and accountable economy.

The standard, designed to embed a culture of integrity across the public and private sectors, shields the economy from the corrosive effects of fraud. Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlighted the importance of the ISO standard in assessing fraud risks, implementing controls, and protecting the economy from hidden taxes and business costs.