eTranzact champions regulatory compliance as Nigeria seeks exit from FATF grey list

eTranzact Plc has reiterated its commitment to regulatory compliance and financial security, positioning itself at the forefront of Nigeria’s efforts to strengthen its global financial reputation and combat cyber threats.The Managing Director and Chief Executive Officer of eTranzact, Mr Niyi Toluwalope, made this known in a statement issued on Tuesday, following a high-level training workshop organised in partnership with the Nigerian Financial Intelligence Unit (NFIU).According to Toluwalope, the training session served as a testament to eTranzact’s institutional capacity and forward-looking regulatory posture, particularly as the country works to remove itself from the Financial Action Task Force (FATF) grey list.

The session, led by the NFIU, focused on key regulatory priorities such as Know Your Customer (KYC) procedures, transparency in Ultimate Beneficial Ownership (UBO), and the prompt reporting of suspicious transactions. These themes were carefully chosen to address systemic gaps and enhance compliance across the financial services landscape.Targeted at Other Financial Institutions (OFIs), the workshop convened compliance professionals, regulatory bodies, and key industry players to deliberate on current global standards in Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and financial intelligence.



These discussions are part of broader national efforts aimed at reinforcing Nigeria’s standing within the international financial community.Toluwalope used the event to reiterate eTranzact’s readiness and willingness to lead by example in compliance matters. “Our commitment to compliance is not a box-ticking exercise.

It is a strategic imperative that informs every layer of our operations,” he said.He further noted that the timing of the training aligned with ongoing upgrades across eTranzact’s compliance architecture. The fintech firm has already rolled out an automated AML transaction monitoring system and enhanced scrutiny over high-risk customers, including Politically Exposed Persons (PEPs).

“Our systems are secure and scalable, backed by robust internal governance,” Toluwalope stated. “We believe this is the only path to sustained leadership in Nigeria’s dynamic digital finance space.”Edward Onyenweaku, Chief Risk and Compliance Officer at eTranzact, expanded on the firm’s strategy, pointing to the adaptability and scalability of its compliance infrastructure.

“Our goal is to remain ahead of the curve. We combine cutting-edge technology with agile policy implementation to ensure we are not caught off guard by regulatory changes. This training strengthens that resolve,” Onyenweaku said.

As Nigeria intensifies efforts to meet international benchmarks in the fight against financial crimes, institutions like eTranzact are demonstrating that regulatory adherence and technological innovation are not mutually exclusive.By taking an active role in regulatory conversations and reinforcing its security framework, eTranzact is not only protecting its operations but also contributing to the financial integrity of the broader ecosystem.In a fast-evolving digital economy where regulatory missteps can swiftly damage reputations, eTranzact is charting a course defined by vigilance, transparency and resilience.

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