Have you heard about the updated CBN directive on the Know Your Customer (KYC) policy?

KYC is a means of verifying customers’ identities, preventing fraud, and ensuring financial security.

Here’s how to run KYC as a financial institution;
1. Make sure you get the correct details of your customers including their Bank verification number (BVN) and their National identity number (NIN)

2. Familiarize yourself with the KYC requirements set forth by the Central Bank of Nigeria, Nigeria Financial Intelligence Unit (NFIU), and other relevant regulatory bodies.

3. Establish KYC Policies and Procedures by developing clear internal policies and procedures for customer identification, verification, and ongoing due diligence.

Don’t forget that compliance saves you a lot of trouble.

Contact us on 07066990315 to get the wheels of your KYC policy running!