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Cardoso urges stronger anti-money laundering law

Written by on July 2, 2024

Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso is calling for regulations to strengthen anti-money laundering and cybersecurity crimes within the West African Monetary Zone, WAMZ.

Cardoso also reiterates the importance of monitoring trends, risks and innovations of NBFIs or Other Financial Institutions, OFIs, as their increasing transaction volumes pose major financial system stability risk.

The director general, West African Monetary Institute, WAMI, Olorunsola Olowofeso says member states should develop an adequate national cybersecurity strategy and supervisory frameworks to strengthen the resilience of the financial sector.

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