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Instituting a comprehensive domestic regulatory and supervisory regime for banks and non-bank financial institutions that provide formal and informal services for transmission of money or value; And bodies susceptible to money laundering
ECONOMIC AND FINANCIAL CRIMES COMMISSION (ESTABLISHMENT)ACT 2004, SCUML; NFIU; MONEY LAUNDERING (PROHIBITION)ACT 2011; CENTRAL BANK OF NIGERIA ANTI-MONEY LAUNDERING/COMBATING FINANCING OF TERRORISM COMPLIANCE MANUAL FOR BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA (MARCH 2009)
Consider the establishment of a financial intelligence unit to serve as a national centre for the collection, analysis and dissemination of information regarding potential money-laundering
ECONOMIC AND FINANCIAL CRIMES COMMISSION ; NIGERIAN FINANCIAL INTELLIGENCE UNIT
Sub 2-3 A(a-c)
Requirement for individuals and businesses to report cross-border transfer of substantial quantities of cash and appropriate negotiable instruments; Measures to ensure that accurate and meaningful information on the originator of funds transfer is provided and to ensure that the information is maintained.
KNOW YOUR CUSTOMER DIRECTIVE(CBN,NDIC & EFCC INIITIATIVE); BANKS AND OTHER FINANCIAL INSTITUTIONS ACT ( ) MONEY LAUNDERING EXAMINATION PROCEDURE/METHODOLOGY GUIDANCE NOTE
Ensure that State Parties use the relevant initiatives and bilateral cooperation of regional, interregional and multilateral organizations against money laundering;
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