In fulfilling the aims and objectives of the Committee of Chief Compliance Officers of Banks in Nigeria (CCCOBIN), a pre-mutual evaluation workshop was recently organised by the body at Eko Hotel and Suites, Victoria Island, Lagos.
At the workshop, the Chairman of CCCOBIN, Mr Pattison Boleigha, said that Nigeria was due for another round of Mutual Evaluation (ME) of compliance-related policies among Nigerian banks. He said that “unlike what obtained during the first round which focused on ‘technical compliance’, the second round of ME will focus on ‘effectiveness’.
Boleigha stated that though the country went through its first round of ME in 2007, it did not, however, “do very well due to the very poor knowledge of Anti-Money Laundering/Combating the Financing of Terrorism AML/CFT.” He was of the opinion that a major outcome of the workshop would be the “setting out of a timeline for the conduct of a moot Mutual Evaluation for the country through the collaboration of this Committee and all other relevant bodies and authorities.”