Visblog

By Elvis Onuigbo | March 11, 2026 | Banking Regulation The Central Bank of Nigeria has issued new guidelines requiring banks, fintechs and money transfer operators to deploy automated anti-money laundering systems to improve real-time detection of suspicious financial transactions. Nigeria’s financial institutions are set to implement stricter financial crime monitoring systems as the Central Bank of Nigeria (CBN) introduces new guidelines mandating the deployment of automated anti-money laundering solutions. Under the new directive, banks, mobile money operators, international money transfer operators, and other financial institutions will be required to adopt automated Anti-Money Laundering (AML) systems that can detect and report suspicious transactions in real time. The new baseline standards, released by the CBN, form part of broader efforts to strengthen Nigeria’s financial system against illicit financial activities. The framework is designed to su...

Best Nigeria SIM card  NCC to Launch Cross-Sector Platform to Track Recycled Phone Numbers, Strengthen Fight Against SIM-Linked Fraud Abuja, Nigeria — The Nigerian Communications Commission (NCC) is set to introduce a cross-sector digital platform that will allow financial institutions and security agencies to monitor recycled phone numbers in a bid to curb fraud associated with SIM card reassignment. The proposed system is designed to close long-standing gaps between telecom operators, banks, fintech companies, and law enforcement authorities. By creating a centralized verification mechanism, regulators aim to prevent criminals from exploiting reassigned phone numbers to gain unauthorized access to financial accounts. Industry observers describe the move as a major step toward strengthening Nigeria’s digital trust framework, particularly as mobile phones increasingly serve as primary identity tools for financial and commercial transactions. Growing Concerns Over SIM ...