The bank explained in a statement posted on its website that in order to ensure that the provisions of the Money Laundering (Prohibition) Act (MLPA) of 2011 were enforced, all Designated Non-Financial Businesses and Professions (DNFBPs) were required to comply with the Know-Your-Customer (KYC) requirement whose deadline was recently extended to December 31, 2013.
The statement signed by the Director, Corporate Communications, CBN, Mr. Ugochukwu Okoroafor, pointed out that the only requirement for the KYC update was the presentation of evidence of registration, specifically, certificate of registration showing registration number with the Special Control Unit Against money Laundering (SCUML).
