Compliance Institute, Nigeria becomes CIBN accredited


The Compliance Institute, Nigeria (CIN) the umbrella body of all Compliance professionals in Nigeria has been accredited by the Chartered Institute of Bankers of Nigeria (CIBN) as a certified training institute for banks and other financial institutions in Nigeria.

This is in line with the Central Bank of Nigeria (CBN) regulation that gave CIBN the powers to regulate the training and educational institutions for the banking industry.

The President, Compliance Institute, Nigeria (CIN), Pattison Boleigha, at a media round-table where he gave a robust account of the Institute’s inner- workings in the last year, disclosed this in his presentation in Lagos on Friday.

According to him, the benefits of the accreditation include the standardisation of the Institute’s training programmes to international best practices and the ability to deliver to the needs and expectations of operators within the industry.

In the words of the Registrar of the Institute, Victor Oni, ‘‘Our Vision is “To be acknowledged nationally and globally as the standard-setter for compliance practice within the financial industry in Nigeria”, whilst our Mission is to “Maintain and promote regulatory standards for the Industry by facilitating and encouraging professional development and accreditation for its members (individual and Corporate). Maintain, promote and uphold regulatory standards in the industry for a respectable Compliance profession. This accreditation is further attestation to our resolve as an institute to broaden the scope of Compliance in Nigeria”

The Chairman Programmes, Education and Training, Compliance Institute, Nigeria(CIN); Isioma Gogo-Anazodo also explained that ‘‘As the Institute at the fore of Compliance in the nation and across Africa, our accreditation hinged on our educational, certification courses will further set a tone for renewed hopes of a better Compliant Corporate Nigeria and Africa’’

Boleigha said the well-earned accreditation was not only another step in CIN’s efforts to enhance the competencies of the Compliance practitioners in the nation’s business landscape, but a further manifestation of the mandate of the institute as the sole compliance body for all Compliance officers in Nigeria, and tone-setter on issues bothering on but not limited to the implementation of the competency framework on Anti-Money Laundering, terrorism financing and corporate governance across all industries.

Addressing journalists on the importance of how training of compliance Professionals help in combating crime, money-laundering and terrorist financing, The Chairman Education and Training, Compliance Institute, Nigeria; Isioma Gogo-Anazodo said, ‘‘It is very instructive to note that the global compliance landscape is constantly evolving owing to several factors, including the dynamic nature of financial crimes, emerging money laundering and terrorist financing (ML/TF) threats, advancement in technology, and the ever-changing international standards, especially the FATF standards/methodology, with an attendant rise in the number and complexity of legislative and regulatory frameworks, as well as progressive enforcement by authorities. Unfortunately, reporting institutions in low-capacity countries, including Nigeria, until now, lacked the required capacity to keep pace with the changes in the compliance environment. The establishment of the Compliance Institute, Nigeria, was conceived to address the capacity gaps, promote best practice standards for the compliance profession, and ultimately, contribute to deepening compliance, including effective implementation of AML/CFT preventive measures, particularly within the financial services sector in Nigeria.’’

Whist reiterating the institute’s efforts in deepening competencies in the Compliance industry, he urged Nigerians across all industries to avail themselves of the opportunity of the institute’s over 3,500 membership across all sectors of the economy, programs, and certifications namely, professional certification in Designate, Compliance Professional (DCP) examinations, Associate, Compliance Institute, Nigeria (ACIN) and Fellow, Compliance Institute, Nigeria (FCIN) Certifications of the Institute.



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