Anti-Money Laundering Policy

InvestNaija is committed to compliance with Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Combating Proliferation Financing (CPF) laws and regulations to protect the integrity of our platform and stakeholders.

This policy outlines the framework, controls, and procedures implemented by InvestNaija to prevent and detect financial crimes.

Objectives of this policy

• Ensure compliance with applicable AML/CFT/CPF laws and regulations
• Prevent InvestNaija and its stakeholders from being used for illicit financial activities
• Establish clear preventive and monitoring measures against financial crimes

Regulatory framework

This policy is guided by applicable local and international regulations, including but not limited to:

• CBN AML/CFT/CPF Regulations 2022
• SEC AML/CFT/CPF Regulations 2022
• Money Laundering (Prohibition) Act 2022
• Terrorism (Prevention and Prohibition) Act 2022
• Banks and Other Financial Institutions Act
• Cybercrimes (Prohibition, Prevention, etc.) Act 2015
• FATF 40 Recommendations
• USA PATRIOT Act
• OFAC Guidelines

Governance and oversight

The Board of Directors provides oversight over AML/CFT/CPF compliance and ensures proper governance structures are in place.

Management is responsible for implementing approved policies and ensuring effective internal controls.

KYC and due diligence

InvestNaija applies a Know Your Customer (KYC) process during onboarding, including verification of Bank Verification Number (BVN).

We conduct risk-based assessments, including enhanced due diligence for high-risk clients and ongoing monitoring of all accounts.

Transaction controls

All transactions are processed through traceable electronic channels such as bank transfers and direct deposits.

Cash transactions are not accepted. Any suspicious activity may be reported to relevant regulatory authorities.

Prohibited activities

InvestNaija does not conduct business with individuals or entities involved in illegal or high-risk activities, including:

• Shell companies and anonymous accounts
• Sanctioned individuals or jurisdictions
• Arms and weapons dealers
• Gambling and lottery-related businesses
• High-risk or unverified correspondent banking relationships

Reporting obligations

InvestNaija complies with all regulatory reporting requirements and submits suspicious transaction reports where necessary.

Internal controls

• Regular employee compliance training
• Transaction monitoring systems
• Record keeping and data protection controls
• Periodic audits and compliance reviews

Policy review

This policy may be updated periodically to reflect regulatory or operational changes.

Contact information