Understanding AML/CPF
Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) frameworks are designed to prevent the movement of funds linked to criminal activity, terrorism, or the financing of weapons of mass destruction.
These frameworks form a crucial part of Nigeria’s regulatory landscape, helping to ensure that businesses are not unknowingly used as channels for illicit transactions. They also align with global standards set by the Financial Action Task Force (FATF) — the international body responsible for promoting effective measures to combat money laundering and terrorism financing.
In February 2023, Nigeria was placed on the FATF Grey List due to identified deficiencies in its AML/CFT/CPF framework. This designation means the country’s financial activities are under closer international scrutiny, creating an urgent need for businesses to strengthen compliance and due diligence processes.
Why AML/CPF Compliance Matters
Implementing an effective AML/CPF framework isn’t just a regulatory requirement, it’s a business safeguard.
• Protect your organisation’s reputation by ensuring your systems are not exploited for illegal transactions.
• Avoid regulatory penalties and sanctions under the Money Laundering (Prevention and Prohibition) Act, 2022 and related laws.
• Maintain access to international finance by building credibility with banks, investors, and global partners.
• Support Nigeria’s economic integrity by contributing to the nation’s compliance with global standards.
Whether you’re a financial institution, professional service firm, real estate company, or corporate entity, you are required to put in place effective AML/CPF procedures.
What Compliance Involves
To stay compliant, businesses must:
• Conduct risk assessments to identify potential exposure to money laundering or proliferation risks.
• Develop and implement robust AML/CPF policies and controls.
• Maintain comprehensive transaction and customer records.
• Conduct regular employee training and internal audits.
• Report suspicious transactions promptly to the Nigerian Financial Intelligence Unit (NFIU).
Failure to meet these obligations can result in fines, loss of operating licences, reputational damage, and restricted access to local and international financial systems.
How 18 Temple Supports You
At 18 Temple, we understand that compliance should be practical, not overwhelming. Our AML/CPF service helps you meet all statutory and regulatory requirements while embedding strong governance and risk management systems into your operations.
Our services include:
• AML/CPF risk assessments and gap analyses
• Development of compliance policies and internal control frameworks
• Staff training and awareness programs
• Independent AML audits and testing
• Support with reporting and regulatory liaison
• Continuous advisory on emerging AML/CPF regulations and best practices
We partner with clients across diverse industries to build compliance systems that are effective, sustainable, and tailored to their risk profiles.
Why Choose 18 Temple
• Proven Expertise: Our professionals combine legal, regulatory, and risk management experience to deliver practical solutions.
• Tailored Solutions: We design AML/CPF programs that reflect your industry, size, and operating model — no one-size-fits-all templates.
• Regulatory Credibility: Our frameworks help clients maintain positive relationships with regulators and investors alike.
• Comprehensive Support: From setup to training and audits, we handle your compliance journey end-to-end.
Ready to Strengthen Your Compliance Framework?
Compliance is not optional — it’s a foundation for business trust, resilience, and growth.
Let 18 Temple help you design and implement a robust AML/CPF compliance program that meets global standards and safeguards your reputation.
enquiries@18temple.ng
+234 701 518 0258
Contact us to schedule a consultation today.