The Central Bank of Nigeria has updated its Baseline Standards for Automated AML/CFT/CPF Solutions, mandating real-time transaction monitoring with sub-second response times and rapid sanctions list integration by March 2026. Financial institutions must implement technology-driven compliance frameworks with demonstrable effectiveness, clear audit trails, and explainable decisions, while bearing full accountability for their systems.
Nigeria is proposing amendments to its 2023 Data Protection Act that would require social media companies to establish physical offices in the country and impose stricter accountability measures on developers, including registration requirements, data processing registers, and tighter third-party data sharing rules. These changes reflect broader African data protection reforms driven by AI governance concerns and local nexus requirements for foreign companies.
No articles specifically tagged for Nigeria yet. Check our blog for general compliance coverage.