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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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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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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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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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 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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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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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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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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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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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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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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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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Regfyl Team
Dec 4, 20222 min read
How to file a Suspicious Transaction Report in Nigeria
Suspicious Transaction reports
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