Blog | Regfyl

AML Obligations of Designated Non-Financial Businesses and Professions (DNFBPs) in Nigeria

Nov 144 min read

AML Obligations of Designated Non-Financial Businesses and Professions (DNFBPs) in Nigeria

In the battle against money laundering and financial crime, the focus is often on banks and financial institutions, which play a critical...

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The State of AML Compliance in Nigeria 2024: Key Insights from Our Industry Report

Regfyl Team

Nov 135 min read

The State of AML Compliance in Nigeria 2024: Key Insights from Our Industry Report

At Regfyl, we understand that anti-money laundering (AML) compliance is a complex, evolving landscape, particularly for financial...

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Insights from CBN Updated Regulatory Guidelines for Bureaux de Change Operations in Nigeria

Regfyl Team

Oct 173 min read

Insights from CBN Updated Regulatory Guidelines for Bureaux de Change Operations in Nigeria

The Central Bank of Nigeria (CBN) has recently issued comprehensive regulatory guidelines for bureaux de change (BDC) operations aimed...

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Understanding the CBN Guidance on Ultimate Beneficial Ownership: Key Compliance Insights for Financial Institutions in Nigeria

Regfyl Team

Oct 23 min read

Understanding the CBN Guidance on Ultimate Beneficial Ownership: Key Compliance Insights for Financial Institutions in Nigeria

Objectives and Applicability The Central Bank of Nigeria (CBN) Guidance on Ultimate Beneficial Owners of Legal Persons and Legal...

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A Review of the CBN Guidance Note on Politically Exposed Persons

Regfyl Team

Sep 273 min read

A Review of the CBN Guidance Note on Politically Exposed Persons

The Central Bank of Nigeria (CBN) issued Guidance Notes on Politically Exposed Persons in June 2023 (Guidance), building on its 2022...

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Regfyl raises $1.1M to tackle Africa's AML compliance crisis

Regfyl Team

Sep 171 min read

Regfyl raises $1.1M to tackle Africa's AML compliance crisis

Regfyl, a Nigerian anti-money laundering (AML) compliance startup, has raised $1.1 million in pre-seed funding to address the growing...

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The Three Lines of Defence Model for Nigerian Financial Institutions

Regfyl Team

Aug 263 min read

The Three Lines of Defence Model for Nigerian Financial Institutions

In the ever-evolving landscape of financial regulation and compliance, Nigerian financial institutions face increasing pressure to ensure...

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Regfyl Team

Aug 214 min read

The Nigerian Sanctions List

Terrorism financing remains a significant threat to national and global security, and Nigeria is no exception. With insurgencies and...

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Regfyl Team

Jun 183 min read

Payment Fraud in Nigeria

Digital payments in Nigeria have grown at an exponential rate over the last several years. This is wonderful for the overall financial...

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Regfyl Team

May 234 min read

PEP Screening in Nigeria - A Guide

Introduction Under the relevant regulatory compliance laws in Nigeria, there is an obligation for financial institutions and designated...

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Regfyl Team

May 131 min read

Security and Privacy are Paramount

Regfyl is a comprehensive toolkit for fraud prevention and regulatory compliance in Africa. We live and breathe security at Regfyl. Our...

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Anti-Money Laundering Requirements in Nigeria

Regfyl Team

Mar 203 min read

Anti-Money Laundering Requirements in Nigeria

Money laundering is making illegally obtained money seem legal by moving it through various transactions to hide its source. Money...

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Key Provisions of Nigeria's Money Laundering Prevention and Prohibition Act 2022

Regfyl Team

Feb 43 min read

Key Provisions of Nigeria's Money Laundering Prevention and Prohibition Act 2022

The latest and most comprehensive regulation concerning anti-money laundering in Nigeria is the Money Laundering (Prevention and...

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Regulatory Compliance for Fintechs in Nigeria

Regfyl Team

Jan 274 min read

Regulatory Compliance for Fintechs in Nigeria

Financial technology (Fintech) companies are companies that use technology to provide, improve, and simplify financial services. They...

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Compliance Tips for FinTech Companies in Nigeria

Regfyl Team

Jul 2, 20232 min read

Compliance Tips for FinTech Companies in Nigeria

One of the more difficult issues which fintech companies in Nigeria encounter when launching and running their business is understanding...

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Regulatory Compliance for Microfinance Banks in Nigeria

Regfyl Team

Jul 2, 20234 min read

Regulatory Compliance for Microfinance Banks in Nigeria

The banking sector in Nigeria is one of the most highly regulated sectors in the country, and this is for a good reason. Banks play such...

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Requirements to obtain a Microfinance Bank Licence in Nigeria

Regfyl Team

Feb 6, 20233 min read

Requirements to obtain a Microfinance Bank Licence in Nigeria

What is a Microfinance Bank ? A microfinance bank is any company licensed by the Central Bank of Nigeria (CBN) to carry on the business...

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How to file a Suspicious Transaction Report in Nigeria