Regulatory Compliance & Standards
Numero is committed to maintaining the highest standards of regulatory compliance and operational excellence in accordance with Nigerian financial regulations and international best practices.
Our Approach: Comprehensive compliance framework designed to meet regulatory requirements and industry standards
Regulatory Frameworks & Requirements
Our compliance framework addresses all relevant Nigerian regulatory requirements and international standards
Central Bank of Nigeria (CBN)
Compliance FrameworkPrimary regulator for financial services and international money transfers
- International Money Transfer Operator (IMTO) requirements
- Anti-Money Laundering (AML) regulations
- Know Your Customer (KYC) requirements
- Foreign Exchange (FX) regulations
- Payment system oversight requirements
Lagos State Ministry of Commerce
Compliance FrameworkLocal business registration and operational requirements
- Business registration and licensing
- Local tax compliance
- Business operations regulations
- Consumer protection standards
Nigerian Financial Intelligence Unit (NFIU)
Compliance FrameworkFinancial crime prevention and reporting requirements
- Suspicious transaction reporting
- Cash transaction monitoring
- Financial crime prevention
- Regulatory reporting requirements
National Information Technology Development Agency (NITDA)
Compliance FrameworkData protection and technology standards
- Nigerian Data Protection Regulation (NDPR)
- Data security standards
- Technology compliance
- Digital service regulations
Core Compliance Areas
Our comprehensive compliance framework covers all critical areas required for financial services operations
Anti-Money Laundering (AML)
Comprehensive AML framework to prevent financial crime
- Customer due diligence and verification
- Transaction monitoring and screening
- Suspicious activity reporting
- Risk-based approach to compliance
- Regular AML training and updates
Know Your Customer (KYC)
Robust customer identification and verification processes
- Multi-factor identity verification
- Document authentication and validation
- Risk-based customer categorization
- Ongoing customer monitoring
- Enhanced due diligence for high-risk customers
Data Protection & Privacy
Compliance with Nigerian and international data protection standards
- NDPR compliance framework
- Data minimization and purpose limitation
- Secure data storage and transmission
- Data subject rights management
- Regular privacy impact assessments
Financial Crime Prevention
Advanced systems to detect and prevent financial crimes
- Real-time transaction monitoring
- Fraud detection algorithms
- Sanctions screening
- PEP (Politically Exposed Person) screening
- Cross-border transaction monitoring
Our Compliance Process
A systematic approach to maintaining regulatory compliance and operational excellence
Risk Assessment
Comprehensive risk assessment of all business operations, products, and customer relationships
Policy Development
Development and implementation of compliance policies and procedures aligned with regulatory requirements
Training & Awareness
Regular training for all staff on compliance requirements, regulatory updates, and best practices
Monitoring & Testing
Continuous monitoring of compliance effectiveness and regular testing of control systems
Reporting & Documentation
Comprehensive documentation and reporting to regulatory authorities as required
Continuous Improvement
Regular review and enhancement of compliance framework based on regulatory changes and lessons learned
International Standards & Best Practices
Our compliance framework incorporates international best practices while focusing on Nigerian regulatory requirements
Nigerian Operations
- Compliance with Nigerian financial regulations
- Regulatory framework alignment
- Local regulatory partnerships
Future Expansion
- International compliance framework development
- Cross-border regulatory partnerships
- Multi-jurisdictional compliance expertise
Our Compliance Commitment
We are committed to maintaining the highest standards of regulatory compliance and operational excellence. Our compliance framework is continuously reviewed and enhanced to meet evolving regulatory requirements.
Continuous Improvement
We regularly review and update our compliance framework based on regulatory changes, industry developments, and lessons learned from our operations. Our commitment to compliance is fundamental to our business operations and customer trust.
Questions About Compliance?
If you have questions about our compliance framework or regulatory approach, please contact our compliance team.