Financial Rules Compliance Will Attract Foreign Investments, Institute Says

The Compliance Institute of Nigeria (CIN) has stressed that with total compliance to the financial rules and regulations in the country, Nigeria willbe able to attract huge flow of foreign investments.

CIN therefore stated that with its comprehensive training for compliance officers and professionals, it was poised to support authorities in enforcing regulations in order for Nigeria to gain respect in the comity of nations.

The leadership of the Institute led by its President, Pattison Boleigha, said at a media parley yesterday in Lagos that CIN is wholly aimed at curbing illicit fund flow and international money laundering.

According to Boleigha, “The primary objective of the institute is to promote professionalism among compliance practitioners and the application of International compliance best practice through the promotion of the professional, status, image and credibility of its members with its accreditation and professional programmes.

“We have a lot of training programmes for our professionals who will ensure all forms of corruption and money laundering are curbed in the system. Our training programmes which are ICT and conferences-based will help bring financial organisations to speed in area of transparency and fairness.”

He added that the Institute enforces compliance to financial regulations by training its officer who would effectively ensure total compliance in banks and other financial institutions, saying this is done through encouragement and facilitation of the exchange of information among members via cooperation, collaboration and coordination of efforts.

CIN president said the Institute which was registered on January 22, 2015, and commenced operations in 2017, was established to encourage, promote and revive the consciousness for regulatory compliance within and outside the financial industry in the country.

Boleigha added: “The Compliance Institute Nigeria has so far conducted six sets of examinations for members from banking and other financial institutions for the award of the professional certificate of Designate, Compliance Professional (DCP) with over 400 members taking the examinations. We also offered an opportunity to grandfather compliance practitioners with the requisite qualifications and experience and will be awarding over 40 Associate, Compliance Institute, Nigeria (ACIN) and over 60 Fellow, Compliance Institute, Nigeria (FCIN) certifications. All the certificates will be officially awarded at our first inaugural investiture ceremony holding on December 9, 2017 in Lagos Business School, Lagos.