On May 16, 2025, ANB, alongside the Lottery and Casino Associations, hosted a specialized training session on Anti-Money Laundering (AML) Compliance in collaboration with the Special Control Unit Against Money Laundering (SCUML) and the Nigerian Financial Intelligence Unit (NFIU). The event brought together stakeholders for an engaging, solutions-driven dialogue on strengthening compliance in Nigeria’s gaming sector.
Event Highlight
The session unpacked the Money Laundering (Prevention and Prohibition) Act 2022 and the EFCC Regulation 2024, offering participants clarity on their practical application within the betting, lottery, and casino industries. Key discussions focused on AML/CFT obligations, the need for robust internal controls, and the adoption of risk-based compliance approaches tailored to sector realities.
A major highlight was the deep dive into reporting obligations. SCUML provided guidance on filing Currency Transaction Reports (CTRs), while the NFIU outlined practical steps for preparing and submitting Suspicious Transaction/Activity Reports (STRs/SARs). These presentations reinforced the importance of timely, accurate reporting in safeguarding Nigeria’s financial system.
The workshop further explored red flag indicators and monitoring techniques to help operators detect and address suspicious activities at an early stage. By fostering stronger compliance cultures, the session marked an important milestone in advancing industry-wide transparency, accountability, and resilience against financial crime.
