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Home ยป eTranzact Deepens Compliance Culture Through Strategic Partnership with NFIU

eTranzact Deepens Compliance Culture Through Strategic Partnership with NFIU

Latifat Fashina by Latifat Fashina
April 24, 2025
in Fintech
0
eTranzact PLC
eTranzact PLC

eTranzact PLC

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In a clear demonstration of its institutional strength and regulatory foresight, eTranzact Plc has reinforced its commitment to compliance excellence during a high-level training session hosted in partnership with the Nigerian Financial Intelligence Unit (NFIU).

The session, facilitated by the NFIU, spotlighted critical regulatory expectationsโ€”from Know Your Customer (KYC) protocols to transparency in Ultimate Beneficial Ownership (UBO) and the timely reporting of suspicious transactions.

These topics addressed operational gaps that have historically drawn international scrutiny and aimed to close compliance loopholes across the financial services ecosystem.

Designed to steer Other Financial Institutions (OFIs) toward full regulatory alignment, the intensive workshop brought together compliance officers, regulators, and key industry stakeholders. Discussions focused on evolving global trends in anti-money laundering (AML), counter-terrorism financing (CTF), and financial intelligenceโ€”supporting Nigeriaโ€™s ongoing efforts to exit the Financial Action Task Force (FATF) Grey List.

This move is considered crucial in restoring global financial confidence and credibility.

Amid rising global scrutiny on data integrity and financial transparency, eTranzact seized the opportunity to underscore its proactive compliance posture.

With secure, scalable systems and a strong internal governance framework, the fintech continues to position itself as a resilient leader in Nigeriaโ€™s digital financial landscape.

eTranzact CEO - CeBIH - Credo by eTranzact
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Niyi Toluwalope, chief executive officer of eTranzact International Limited

Addressing staff and participants at the session, Niyi Toluwalope, MD/CEO eTranzact Plc, made the companyโ€™s stance clear:

โ€œCompliance is not an afterthoughtโ€”it is woven into the very architecture of our operations.ย As Nigeria works its way off the FATF Grey List, we see this not just as a national priority, but a shared responsibility that begins at the institutional level.โ€

For eTranzact, the timing was apt as the company has already advanced key upgrades across its compliance infrastructure, deploying an automated anti- money laundering (AML) transaction monitoring system and intensifying oversight on high-risk customers, including Politically Exposed Persons (PEPs).

Edward Onyenweaku, chief risk and compliance officer eTranzact Plc, emphasized the operational backbone behind these measures.

โ€œOur systems are built for adaptability and scalability,โ€ he explained. โ€œWe are leveraging both technology and policy to ensure that regulatory shifts donโ€™t catch us off guard. This training only sharpens that edge,โ€ he said

As Nigeria races to meet international anti-financial crime benchmarks, firms like eTranzact are proving that regulatory compliance and digital innovation can go hand in hand.

The fintechโ€™s presence at the CBN-led training wasnโ€™t just symbolicโ€”it was an active statement that security, transparency, and

infrastructure agility are not optional in todayโ€™s financial environment. In an industry where reputations rise and fall with compliance lapses, eTranzact isnโ€™t just staying afloatโ€”Itโ€™s setting the pace, proving that in fintech, security isnโ€™t an added layer. Itโ€™s the infrastructure itself.

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Latifat Fashina

Latifat Fashina

LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

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