Azàland

CBN makes Social Media Handle mandatory KYC requirements for bank customers.
The Central Bank of Nigeria (CBN) has released its Customer Due Diligence Regulations 2023 or financial institutions under its regulatory purview as it takes a decisive stance against financial crimes.

The CBN’s latest move aims to bolster compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) provisions while aligning with international best practices.

In an effort to enhance the accuracy and depth of customer identification, the CBN has made it mandatory for financial institutions to collect and verify customers’ social media handles as part of their Know Your Customer (KYC) requirements.

New Regulation
These new regulations, which complement existing provisions outlined in the CBN’s Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions Regulations of 2022, are designed to fortify the fight against money laundering, terrorism financing, and proliferation financing.

Under the new regulations, financial institutions are required to establish internal processes and procedures for conducting customer due diligence measures for both potential and existing customers, including occasional customers.

https://nairametrics.com/2023/06/23/cbn ... customers/

What if I use my handle to post memes?

what about those that ain't using internet enabled phones?

is this even necessary?

What are they trying to achieve from this? To be able to track down people's accounts when they drag banks for poor services online?

This is nonesense

My social media have white profile

They won't see me