Terror funds: CBN tightens monitoring of banks

The CBN has increased monitoring of banks and financial institutions to prevent terrorism financing risks

• CBN intensifies surveillance of banks to combat terror funds.
• Focus on transaction monitoring and suspicious activity.
• Terrorism financing supervision is a current supervisory priority.
• Greater attention to compliance with targeted financial sanctions.
• Efforts to prevent Nigeria's financial system from being exploited by illicit actors.

The apex bank has elevated terrorism financing supervision to a current supervisory priority