CBN has challenged the Association of Bureaux De Change Operators of Nigeria to evolve an effective self-regulation that would ensure full compliance of the operators. Nigeria CBN ABCON Business
ABCON, the umbrella body of the nation’s over 4,500 Bureaux De Change , licensed by the CBN, received the directive in Lagos, during the Inter-Governmental Action Group against Money Laundering in West Africa Mutual Evaluation Exercise Sensitisation workshop for South West.
He said that ABCON should develop and implement a Code of Conduct for members to promote ethical practices and transparency in the sector, while also continually advising the apex bank on market intelligence on key industry issues. But ABCON President, Dr. Aminu Gwadabe, said that ABCON had consistently advised operators to put in place and implement a system of internal policies, procedures and controls, including Know Your Customer, Customer Due Diligence and reporting of all suspicious transactions to regulators.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
P&ID: AGF demands contract details from CBN, 13 ministers
Read more »
Akatugba joins The Guardian Group as commercial director | The Guardian Nigeria News - Nigeria and World NewsIn furtherance of its restructuring as a multimedia company for optimal operations, The Guardian Group has hired Ms. Judith Akatugba as its Commercial Director. Nigeria Akatugba CommercialDirector TheGuardian
Read more »