Introduction ISO 20022 is far more than a payments messaging standard it is a structural redesign of how financial data travels through systems, embedding trust, context, and intelligence into transaction payloads that legacy formats could never reliably carry. While discussions in Nigeria have often focused on scale and interoperability, the deeper implications especially for risk, […]

Introduction We celebrate connected systems APIs, banking rails, fintech ecosystems, and platform integrations because they enable speed, scale, and innovation. But with every connection comes interdependence, and with interdependence comes a class of risk that is often invisible until it manifests as a failure. This paradox – that connection expands both capability and vulnerability, defines

Financial crime risk governance in Nigeria is overdue for a structural evolution.While banks and fintechs deliver near‑instant payments, Nigeria’s approach to financial crime especially ownership and accountability remains rooted in outdated models that inhibit true risk control and create silos. Here’s why and how programmes must be rewired to match the complexity and velocity of

Introduction Trade in Nigeria has grown rapidly — with imports alone exceeding ₦60 trillion in 2024 — but beneath growing trade figures lies a significant and often overlooked financial crime risk known as Trade‑Based Financial Crime (TBFC). TBFC includes trade‑based money laundering (TBML), terrorism financing, and proliferation financing, and exploits vulnerabilities within legitimate trade systems to

Introduction Compliance in financial services is often reduced to anti‑money‑laundering (AML) — but its full scope is much broader. Across Nigeria’s banks, fintechs, MMOs, VASPs and payment service providers, compliance professionals operate across a constellation of disciplines shaped by regulation, business models, governance expectations and technology. This guide maps out the 12 core compliance fields

Introduction Banking‑as‑a‑Service (BaaS) is rapidly transforming financial services infrastructure in Nigeria, enabling banks, fintechs, and even non‑financial institutions to deliver digital financial products and experiences at scale. While this expansion unlocks inclusion and innovation, it also exposes systemic governance, compliance, and risk gaps that must be addressed for BaaS to deliver on its promise without

Introduction Organisations spend millions on training every year, yet many still fail to build a genuinely competent and compliant workforce. Training that checks a box satisfies neither regulators nor operational risk requirements — because it often fails to deliver measurable impact. This newsletter explores why training must be treated not as a corporate chore, but

Introduction Institutions don’t fail, people do. As Nigeria’s financial ecosystem expands with players like MMOs, PSPs, PSHCs, IMTOs, switching firms, card schemes, and HoldCos, one principle remains unchanged: institutions rise or fall on the strength of those who lead them. Yet the framework that governs how these leaders are vetted, supervised, and held accountable —

Compliance by Design Building Governance and Controls into Digital Products Introduction In the race to build and scale digital products, organisations often prioritise speed, innovation, and market capture. However, in regulated environments, trust is the true differentiator. Compliance by Design (CbD) is a mindset and methodology that ensures governance, risk management, and regulatory controls are

Fraud can cripple an organization’s operations and reputation. Yet, many fraudulent activities give off warning signs long before they escalate. Businesses that train themselves to recognize these signs can detect fraud early and take action before the damage spreads. Here Are 5 Red Flags to Watch For: 1. Unusual Employee Behavior Employees committing internal fraud