The Central Bank of Nigeria (CBN), via a circular issued on September 4, 2025, has formally launched its Compliance Department (the “Department”). Originally established in the first quarter of 2025 and operational from the second quarter, the Department’s formal unveiling consolidates the CBN’s resolve to position compliance as a core pillar of financial sector supervision.
Under this reform, oversight of non-prudential risk areas has been reassigned to the Department, expanding regulatory attention to financial crime prevention, market conduct, enterprise security, and corporate governance, with a particular emphasis on ESG considerations.