CBN launches compliance department to strengthen fight against financial crime Story by Martha Gwary The Central Bank of Nigeria (CBN) has unveiled a dedicated Compliance Department to enhance oversight of non-prudential risks across the nation’s financial system. This new unit underscores the apex bank’s commitment to reinforcing regulatory frameworks in response to evolving threats and compliance challenges. In a circular issued to regulated financial institutions on Thursday, the CBN disclosed that the department was set up in the first quarter of 2025 and became fully operational in the second quarter. The initiative forms part...