Over 600 members of the Compliance Institute, Nigeria (CIN) will be inducted today as the body holds its inaugural investiture.

Speaking during a world press conference in Lagos which was attended by all the executive members of the body, the President of CIN, Mr Pattison Boleigha, said that if the body is given adequate support, Nigeria could be corruption free.

According to him, though the Compliance Institute is starting with the induction of those in the financial institutions, the body will extend compliance training and practices to other institutions.

Boleigha said, if the institute is well supported, it will help in the fight against corruption, terrorism, money laundering and other financial crimes.

While describing the institute as the first of its kind in Africa, Boleigha said the institute had a board of trustees with notable corporate and individual personalities such as the major banks and experienced compliance practitioners in the country.

With the present over 900 membership,  Boleigha said, CIN would continue to embark on membership drive by extending it to other sectors including insurance, taxation, and capital market. “We intend to have 2,000 members by the end of 2017. The institute will spread its activities to cover the rest of West Africa within the next one year. We are also in talks with industry compliance experts from oil and gas, telecommunications and manufacturing sectors to include curricula for these sectors of our economy,” he said.

While emphasizing the importance of compliance, he said the institute will soon be chartered, adding:  “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.”

Boleigha said CIN also intends to conduct a diploma course on Customer Due Diligence, which would be targeted at the market facing and Customer Service staff of financial institutions, because these are the set of personnel who have direct contact with customers.


source: The Nation