CBN Tightens Noose on Money Launderers, Terrorism Financiers
Issues guidelines on beneficial ownership, says legal persons, arrangements susceptible to abuse Imposes responsibility to identify, manage related risks on financial entities
James Emejo in Abuja
The Central Bank of Nigeria (CBN) has unveiled an AntiMoney Laundering, Combating the Financing of Terrorism and
Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions) Regulations, 2022, (CBN AML/CFT/CPF Regulations) to check abuses in the financial system.
The apex bank stated that the objective of the guidance was to assist financial institutions in identifying and verifying the Beneficial Owners (BO) of legal persons and legal arrangements
in line with extant anti-money laundering laws and regulations. The CBN in a circular dated January 12, 2023, and directed to all banks and Other Financial Institutions (OFIs), which was
to financial institutions under the regulatory purview of the central bank. The CBN defined BO as the
signed by the bank’s Director, Financial Policy and Regulations Department, Chibuzor Efobi, said though the guidance was not exhaustive and would be amended as necessary, it however applies
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Atiku Appeals to Nigerians to Collect Their PVCs...
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Nigeria Records 29 Fresh Cases of COVID-19 in One Week WHO urges retention of facemasks Onyebuchi Ezigbo in Abuja The Nigeria Centre for Disease Control (NCDC) has reported 29 new COVID-19 infections recorded
across five states of Nigeria and the Federal Capital Territory (FCT). This is coming as the World Health Organisation (WHO) has advised all the countries to
continue to adhere to COVID-19 protocol on the use of facemasks by the public, irrespective of the local epidemiological situation. NCDC in an update released at
the weekend, noted that the latest report represented cumulative data for cases recorded in one week, from January 7 to 13. The report showed that while the
fatality toll remained 3,155, the newly and discharged 259,850 patients, confirmed cases have increased the according to the NCDC DirectorGeneral, Ifedayo Adetifa, who country’s cases to 259,858. As of January 10, Nigeria Continued on page 6 had tested 5,708,974 samples
Democracy Has Come to Stay in Nigeria, Irabor Declares Says military to back up police for smooth elections Clerics pray for peaceful polls Buhari reviews last Remembrance Day parade as president State governors pledge more support to military Deji Elumoye in Abuja, Segun James in Lagos, Kemi Olaitan in Ibadan, Ibrahim Shuaibu in Kano, James Sowole in Abeokuta and Okon Bassey in Uyo The Chief of Defence Staff (CDS), General Lucky Irabor, yesterday
declared that democracy has come to stay in Nigeria, pledging the military’s readiness to give the necessary support to the Nigeria Police and other internal security agencies to ensure a crisis-free Continued on page 6
Obi: How I’ll Address Ethnic OUR FALLEN HEROES... Agitations If Elected President... Page 12 REMEMBERING President Muhammadu Buhari laying a wreath during the celebration of the 2023 Armed Forces Remembrance Day in Abuja... yesterday
GODWIN OMOIGUI