Financial Institution Compliance in Nigeria Takes Center Stage with Establishment of Compliance Institute
In a significant move aimed at promoting regulatory compliance within and outside the financial industry in Nigeria, the Compliance Institute for Banks and Other Financial Institutions in Nigeria Ltd/GTE, also known as the Compliance Institute, Nigeria (CIN), was registered on January 22nd, 2015. The organization’s primary goal is to encourage and promote awareness of regulatory compliance among professionals and corporate entities across various industries.
Mission and Objectives
The CIN seeks to create a pool of integrity-driven individuals and organizations recognized for their professionalism and strict adherence to both regulatory and non-regulatory standards within and outside the business environment. The Institute aims to achieve this by:
- Encouraging and promoting awareness of regulatory compliance among professionals and corporate entities
- Developing and maintaining high professional standards for compliance professionals in Nigeria’s financial industry
- Providing training, education, and certification programs for compliance professionals
Membership
The CIN draws its primary membership from employees and directors within the financial sector. However, the organization also extends membership opportunities to interested members of the public who are committed to upholding high standards of professionalism and integrity.
Benefits of Membership
Membership of the CIN is now considered a prerequisite for working in the compliance department of any financial institution in Nigeria, underscoring the importance of regulatory compliance in the country’s financial landscape. Members can benefit from:
- Access to training, education, and certification programs
- Opportunities for networking with other compliance professionals
- Stay up-to-date with the latest developments and best practices in compliance
- Recognition as a professional with expertise in compliance
Contact Information
The CIN has established its headquarters at the 5th floor of the Polaris Bank Building on Broad Street, Lagos. You can contact them via phone at +234 806 329 0460 or email at [email protected]. For more information, visit their website at www.complianceinstitute.org.ng.
By promoting regulatory compliance and upholding high standards of professionalism and integrity, the CIN is playing a crucial role in ensuring the stability and growth of Nigeria’s financial industry.