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  • Institute inducts 1,247 professionals at induction

    Institute inducts 1,247 professionals at induction

    Compliance Institute, Nigeria (CIN) it will admit over 1,247 compliance professionals into the institute at its Ninth Induction billed on Saturday, at MUSON Centre, Onikan, Lagos.

    The event, a major gathering for stakeholders in the country’s governance, financial integrity and regulatory space, will also feature conferment of Fellowship on those who demonstrated outstanding ethical leadership and contributions to the profession.

    This year’s theme, “Shaping the Future of Compliance, Innovation, and Ethical Leadership,” reflects the institute’s focus on preparing practitioners for the evolving regulatory environment shaped by technological change, global standards and Nigeria’s anti-corruption efforts.

    As part of efforts to deepen conversations around institutional integrity and governance reforms, CIN has invited Governor of Central Bank of Nigeria (CBN) to deliver the keynote address, and Chairman of Economic and Financial Crimes Commission (EFCC), as special guest at the ceremony.

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    CIN President, Pattison Boleigha, described the ceremony as a consolidation of the institute’s work in strengthening ethical standards and promoting a robust compliance culture. Registrar/Chief Executive Officer, Bawo Egbakhumeh, noted that the ceremony would not only celebrate inductees but also reaffirm CIN’s commitment to building capacity and equipping practitioners with the skills to safeguard the integrity of Nigeria’s financial system. According to her, the nstitute remains dedicated to developing competent professionals capable of supporting governance reforms and driving ethical transformation across the economy.

    Established in 2015, Compliance Institute, Nigeria is a professional body strengthening compliance practice, promoting ethical conduct and advancing global regulatory alignment. It has over 7,000 members in financial and non-financial institutions.

  • Compliance Institute targets charter status, membership growth

    Compliance Institute targets charter status, membership growth

    The Compliance Institute, Nigeria (CIN) has reaffirmed its commitment to strengthening the culture of compliance in Nigeria as it concluded its 9th Annual General Meeting (AGM) in Lagos, with leaders of the body unveiling key achievements in 2024 and strategic priorities for 2025.

    In his address, the President, Compliance Institute, Nigeria (CIN),Pattison Boleigha, described the past year as one of “substantial progress,” with membership climbing to more than 5,156 professionals, including entrants from the United Kingdom, Canada, Cape Verde, Portugal and several African countries. He projected that CIN would exceed 7,000 members by the end of 2025, as it expands into critical sectors such as oil and gas, telecommunications and manufacturing.

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    A central highlight of the AGM was the progress made on the long-awaited Charter Bill. The Chairman announced that the bill had passed its second reading in the Senate and would soon undergo a public hearing. “Securing the passage of the CIN Charter Bill into law remains our foremost priority in 2025,” he said. “Attaining chartered status will formally establish CIN’s role in regulating the compliance profession in Nigeria.”

    The Registrar of the Institute, Bawo Egbakhumeh, reported significant gains in professional certification. He disclosed that candidates sitting for CIN’s certification programmes grew by 14 per cent, successful passes increased by 54 per cent, and the overall pass rate rose from 61 to 82 per cent. “The certification pipeline has strengthened, and our pass rate now reflects the growing commitment of professionals to the highest standards of compliance,” she said.

  • Experts task compliance officers on professionalism

    Experts task compliance officers on professionalism

    The success and progress or otherwise of any organisation rests entirely on how well compliance professionals working in those places play their roles.

    These were the conclusions reached by a cross-section of experts who spoke at the 7th annual induction ceremony of the Compliance Institute, Nigeria (CIN), in Lagos, recently.

    While giving his welcome address, Mr. Pattison Boleigha, President of CIN recalled that the Institute was borne out of the desire to close the capacity gap in the compliance knowledge and the low level of compliance culture in the country and the entire African region as a whole.

    Thankfully, he said seven years down the line there has been an increase in the rate at which companies embed compliance practices in their businesses. “The right tone for compliance in the country is gradually building momentum. Compliance should be part of all organisations’ operations and need to be entrenched in all staff and Compliance Officers through training and awareness creation.”

    The CIN, he emphasised, was set up to maintain and promote best practice standards for the compliance profession and regulatory standards for the industry by facilitating and encouraging professional development and accreditation for its members both at the individual and corporate levels.

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    “Our vision is to be acknowledged nationally and globally as the standard setter for compliance practice within the financial and non-financial sectors in Nigeria, while our mission is to maintain and promote regulatory standards for the industry by facilitating and encouraging professional development and accreditation for members (individual and corporate), maintain, promote and uphold regulatory standards in the industry for a respectable compliance profession.”

    The CIN boss, who revealed that 433 members passed the Designate Compliance Professional (DCP) examinations, also inducted Fellows of the Institute.

    Boleigha, while congratulating the inductees for their gallant efforts in taking and passing the Institute’s examinations, also reassured them that the skills, knowledge and expertise that they have gained will enhance their professional competencies and enable them secure good compliance jobs and professional dignity that will help them to render value added services to their employers, thus furthering the standards and developments of the compliance profession.

    “Let me emphasise that your induction as certified members have imposed on you the challenges of having to, henceforth, stand tall in integrity, impeccable in character, professional in service, alert to global trends and uphold high ethical and professional standards. I, therefore, urge you to strive, at all times, to do your profession and the industry proud,” he stressed, adding that the acquisition of the required knowledge and skill must be followed with diligent application in the workplace.

    “You have to prove your mettle and let your performance make you stand apart from other professionals.”

    In his keynote address, Ibe Kalu, General Manager and Executive for Internal Audit and Forensic Services Division at MTN Nigeria, who spoke on the ‘Role of Artificial Intelligence in Enabling an Effective Compliance Ecosystem,’ acknowledged that the evolution of Artificial Intelligence (AI) has played a pivotal role in transforming the landscape of compliance ecosystems design and application.

    “Initially, compliance processes were predominantly manual, prone to errors, and often trailed the rapidly changing regulatory landscape. However, with the advent of AI, and the imperatives of its rapid and dynamic adoption across all sectors, a paradigm shift occurred,” he recalled, noting that in an era defined by rapid technological advancements in the digital and artificial intelligence space across verticals, industries, markets and nations, the intersection of artificial intelligence and compliance has emerged as a critical area of consideration by world leaders and business experts across the globe.

    According to him, “As we embrace AI in compliance, ethical considerations must always be at the forefront by ensuring that AI is not just a tool for compliance but a force for ethical business practices is crucial for the sustained trust of stakeholders. Furthermore, the evolution of AI in compliance includes the development of explainable AI models. As compliance decisions hold significant consequences, the ability to understand and interpret AI-generated insights has become imperative. Explainable AI ensures transparency, providing stakeholders with a clear understanding of how AI systems arrive at specific compliance-related conclusions.”

    Also speaking on the occasion, Dr. Abigail Duopama-Obomanu, Chief Compliance Officer in Union Bank of Nigeria and Chairperson, Information Technology Committee of the CIN, in her remarks impressed on the new inductees, the need to be steadfast and also uphold the highest level of professionalism at all times.

    The highpoint of the occasion was the recognition of Muhammed Lawal, one of the Designate Compliance Professional (DCP) inductees, for emerging the best student in the entrance examination by members of the CIN board management.

  • Compliance Institute to admit new members at investiture

    Compliance Institute to admit new members at investiture

    The Compliance Institute, Nigeria (CIN) will be admitting new members during its seventh investiture and Annual General Meeting holding on Saturday in Lagos.

     In a statement, the institute said the induction of new members into the league of Professional Compliance Officers will expand its membership base and its impact in the industry.

    The induction  will be holding at Ijewere Hall, Chartered Institute of Bankers of Nigeria (CIBN), Bankers House, 19, Adeola Hopewell, Victoria Island, Lagos. The event will also be broadcast virtually via zoom.

     The institute’s Annual General Meeting  will also hold immediately after the induction.

     “The induction shall admit a new batch of Fellow Compliance Institute, Nigeria (FCIN), Associate Compliance Institute, Nigeria (ACIN) and Designate Compliance Institute, Nigeria Professional (DCP), who have passed its prescribed examinations.

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    Six eminent personalities within the public and private sectors in West Africa, who have contributed to the growth and development of the compliance ecosystem, will also be honoured with fellowship membership by the Institute, whilst deserving top performers in the examinations will be awarded prizes,” the statement said.

     The hybrid event with the Keynote theme ‘‘Compliance in the Digital Era- The Role of Artificial Intelligence in Enabling an Effective Compliance Culture”, will be delivered by Ibe Kalu Etea of GM & E,  Mobile Telecommunications Nigeria, as Keynote Speaker. It will be broadcast digitally to both virtual and physical audiences, and will be witnessed by compliance professionals, policymakers, regulators, law enforcement officers, and standard setters across the world.

     According to the Registrar, Compliance Institute, Nigeria (CIN),  Ini Esau, ”433 student members, who have completed the professional certification examinations of the institute in 2023, will be inducted, whilst deserving top performers in the examinations will be awarded prizes.

    Also expected at the ceremony are corporate titans from different sectors.’’

     Compliance Officers and organisations today face an increasingly complex and evolving regulatory landscape, making compliance a critical aspect of business operations. In the digital era, artificial intelligence (AI) is emerging as a transformative force, enabling businesses to achieve a more effective and proactive approach to compliance.

    The adoption of AI in compliance has the potential to revolutionise the way organisations manage compliance risks and foster a culture of ethical conduct. By leveraging AI, organisations can significantly enhance their compliance effectiveness, reduce costs, and protect their reputation.With the growth and widespread acceptance of Artificial intelligence, no doubt comes with it, its attendant risk.

     This year’s thought-provoking topic, ‘‘Compliance in the Digital Era- The Role of Artificial Intelligence in Enabling an Effective Compliance Culture.’’, seeks to help Compliance professionals stay abreast of the interplay of Artificial intelligence, the associated risks and challenges to the work place.

      Reaffirming the institute’s commitment to this year’s topic, President, Compliance Institute, Nigeria, Pattison Boleigha, said: ‘‘The global compliance landscape is constantly evolving owing to several factors, including Artificial Intelligence, the dynamic nature of financial crimes, emerging money laundering, terrorist financing and proliferation financing (ML/TF/PF) threats, advancements in technology, and the ever-changing international standards”

     Updating industry stakeholders on the progress made by the institute, the Vice President, Compliance Institute, Nigeria, Isah Aminu Buhari, said, “The Compliance Institute, Nigeria (CIN)  Charter Bill has passed its first reading on the floor of the Senate within a year. All necessary steps to ensure that the Bill is passed and signed into law, are being taken. The Bill, when passed will further enhanced Nigeria’s efforts to address the deficiencies that led the ‘Grey Listing’ of Nigeria by the Financial Action Task Force”