CBN
The Central Bank of Nigeria (CBN) has directed financial institutions to request their customers’ social media handles, as well as other personal information in a bid to combat money laundering and other various offences.
The CBN, in a recent memo to the banks, said the directive on strengthening customer due diligence is in line with their regulations on money laundering, terrorism and financing of terrorism.
“To provide additional customer due diligence measures for financial institutions under the regulatory purview of the Central Bank of Nigeria to further their compliance with relevant provisions of the Money Laundering (Prevention and Prohibition) Act (MLPPA), 2022, Terrorism (Prevention and Prohibition) Act (TPPA), 2022, Central Bank of Nigeria (Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions) Regulations, 2022 (CBN AML, CFT and CPF Regulations) and international best practices.
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“And enable the CBN to enforce compliance with customer due diligence measures in line with the CBN AML, CFT and CPF Regulations,” CBN noted in its document; ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’
The information banks are mandated to obtain from their customers in line with the customer due diligence are; “legal name and any other names used (such as maiden name), permanent address (full physical address), residential address (where the customer can be located),” CBN said in the statement.
Also expected to be obtained are, “telephone number, e-mail address, and social media handle; date and place of birth, Bank Verification Number, Tax Identification Number, nationality, occupation, public position held, and name of employer.”
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