DataPro Trains Top BDC Executives on KYC and Anti- Money Laundering

In furtherance of the tandem with the overall strategy of ensuring effectiveness of the Know Your Customer (KYC) principles amidst the licensed Bureau De Change and the promotion of a safe, reliable and efficient financial system, ABCON President, Alhaji Aminu Gwadabe aligns with the CBN’s vision of providing a stable framework for the economic development of Nigeria through effective, efficient, and transparent implementation of monetary and exchange rate policy, and management of the financial sector.

He further harped on the commitment of the Association’s resolve towards a zero tolerance approach for its members that breach operational guidelines.

According to the organisers, Managing Director, DataPro Academy, Mr Abimbola Adeseyoju,’’ The BDC operators occupy a very sensitive sector within the financial industry, and there have been a lot of abuse of the sector itself by people who see it as being very vulnerable. The focus is to use knowledge to correct the gaps so that we can strengthen the sector, the perceived vulnerabilities can be reduced. This is the beginning and our goal is to take the training across the 36 states of Nigeria.

We are the first compliant consulting firm to be certified as an Anti-Money laundering training and compliance Academy. There is gap in knowledge and skill set needed to make the sector safe secure stable and sound. We want to bring the on board the AML/ CFT as a tool for the sustainability of their business, thus helping them avoid risks and do business in a more compliant way.’’

In a disclosure made at a Training organised by DataPro Limited, held yesterday on the theme ‘’ Anti- money laundering training for BDC Executives, Alhaji Aminu Gwadabe disclosed that these fees have made profitability in business difficult for many BDCs because of the rising operating costs and overhead. He appealed to the CBN to address this challenge in order for the market to continually enjoy its stability.