The Central Bank of Nigeria (CBN) issued the Customer Due Diligence Regulations 2023 (CDD regulation) on 23 June 2023, complementing the Know-Your-Customer Regulation from 2013.

This publication by Counsel Dr Jude Odinkonigbo and Associates Victoria Aluko and Obehi Iyoha examines key provisions of the CDD regulation, implications for businesses, obligations on financial institutions and the impact on Nigeria’s data protection landscape, with global practices comparison.