What transaction amounts must Signature Bank report to regulators?
Under the CBN AML/CFT/CPF Regulations 2022, international transfers of funds and securities above US$10,000 or equivalent are reported to the CBN and NFIU within 7 days, and single lodgements or transfers above N5m for individuals and N10m for corporate bodies are reported to the NFIU.
International transfer of funds and securities in excess of US$10,000 or its equivalent: reported to the Central Bank of Nigeria and the Nigeria Financial Intelligence Unit within 7 days of the transaction.
Suspicious transactions: a Suspicious Transaction Report is sent to the Nigeria Financial Intelligence Unit.
Single transactions, lodgements or transfers in excess of N5m for an individual and N10m for a corporate body, or their equivalent: reported to the Nigeria Financial Intelligence Unit.
Effective 2026-01-01. Reviewed by Compliance. Source: AML policy page.