CHARTERED COMPLIANCE INSTITUTE OF NIGERIA BILL
Bill · Governance
A Bill establishes a Chartered Compliance Institute of Nigeria as a professional body for compliance practitioners. It targets compliance professionals, financial institutions, regulators, and businesses. This aims to professionalize compliance practice and improve regulatory standards across industries.
What Is This Policy?
A bill to establish a Chartered Compliance Institute of Nigeria as a professional body for compliance practitioners.
Who Does It Target?
Compliance professionals, financial institutions, regulators, and businesses.
What Does It Aim to Achieve?
Professionalize compliance practice, establish standards, and improve regulatory compliance across industries.
Key Features
Institutional Framework: Establishes clear legal and operational structures Capacity Building: Strengthens institutional and human capacity Public Benefit: Designed to improve service delivery and public outcomes
Current Status
Rollout Stage: Under legislative consideration or active framework Coverage: Nationwide Funding: Federal Government appropriation or relevant mechanism
How to Access
Details available through the National Assembly or relevant government agency.
Impact & Metrics
Would strengthen institutional capacity and improve outcomes in the relevant sector.
Official Resources
Website: nass.gov.ng Contact: National Assembly, Three Arms Zone, Abuja
Legal Framework
Introduced under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended). Modelled on professional body enabling Acts. Operates alongside the Banks and Other Financial Institutions Act (BOFIA) 2020, the Central Bank of Nigeria Act 2007, the Money Laundering (Prevention and Prohibition) Act 2022, and the EFCC Act. Aligns with FATF Recommendations on compliance function standards and the Basel Committee on Banking Supervision compliance guidelines.