CIN Holds 7th Investiture Ceremony, Annual General Meeting 9th Dec 2023

The Compliance Institute of Nigeria (CIN), Nigeria’s flagship umbrella body for all compliance professionals and practitioners in the country, will expand its membership on Saturday, December 9, 2023, with new members joining the League of Professional Compliance Officers as it holds its seventh Annual Induction ceremony in Lagos.

The physical induction ceremony will take place at Ijewere Hall, Bankers House, 19, Adeola Hopewell, Victoria Island, Lagos. The event will also be virtual broadcast via Zoom.

The Institute’s Annual General Meeting will also take place immediately following the induction ceremony.

The induction ceremony, by the institute, shall admit a new batch of Fellow Compliance Institute, Nigeria (FCIN), Associate Compliance Institute, Nigeria (ACIN), and Designate Compliance Institute, Nigeria Professional (DCP) who have passed its prescribed examinations.

Six eminent personalities within the public and private sectors in West Africa, who have contributed to the growth and development of the compliance ecosystem, will also be honoured with fellowship membership by the Institute, whilst deserving top performers in the examinations will be awarded prizes.

The hybrid event with the Keynote theme ‘‘Compliance in the Digital Era- The Role of Artificial Intelligence in Enabling an Effective Compliance Culture”, will be delivered by the GM & E,  Mobile Telecommunications Nigeria, Ibe Kalu Etea as Keynote Speaker, and broadcast digitally to both virtual and physical audiences.

It will be witnessed by compliance professionals across the world including policymakers, regulators, law enforcement officers, and standard setters.

According to the Registrar, Compliance Institute, Nigeria (CIN), Mr. Ini Esau, “433 student members, who have completed the professional certification examinations of the institute in 2023, will be inducted, whilst deserving top performers in the examinations will be awarded prizes. Also expected at the ceremony are corporate titans from different sectors.’’

Compliance Officers and organizations today face an increasingly complex and evolving regulatory landscape, making compliance a critical aspect of business operations. In the digital era, artificial intelligence (AI) is emerging as a transformative force, enabling businesses to achieve a more effective and proactive approach to compliance.

The adoption of AI in compliance has the potential to revolutionize the way organisations manage compliance risks and foster a culture of ethical conduct. By leveraging AI, organisations can significantly enhance their compliance effectiveness, reduce costs, and protect their reputation. With the growth and widespread acceptance of Artificial intelligence, no doubt comes with it, its attendant risk.

This year’s thought-provoking topic, ‘‘Compliance in the Digital Era- The Role of Artificial Intelligence in Enabling an Effective Compliance Culture.’’, seeks to help Compliance professionals stay abreast of the interplay of Artificial intelligence, the associated risks and challenges to the workplace.

Reaffirming the institute’s commitment to this year’s topic, the President, of Compliance Institute, Nigeria, Pattison Boleigha, said: ‘‘The global compliance landscape is constantly evolving owing to several factors, including Artificial Intelligence, the dynamic nature of financial crimes, emerging money laundering, terrorist financing and proliferation financing (ML/TF/PF) threats, advancements in technology, and the ever-changing international standards”

Updating industry stakeholders on the progress made by the institute, the Vice President, of Compliance Institute, Nigeria, Isah Aminu Buhari, said, “The Compliance Institute, Nigeria (CIN)  Charter Bill has passed its first reading on the floor of the Senate within a year.

“All necessary steps to ensure that the Bill is passed and signed into law, are being taken. The Bill, when passed will further enhance Nigeria’s efforts to address the deficiencies that led to the ‘Grey Listing’ of Nigeria by the Financial Action Task Force”

The Compliance Institute, Nigeria’s vision is to be acknowledged nationally and globally as the standard-setter for compliance practice within the financial industry in Nigeria, whilst its mission is to maintain and promote regulatory standards for the Industry by facilitating and encouraging professional development and accreditation for its members (individual and Corporate).

The Compliance Institute for Banks and Other Financial Institutions in Nigeria Ltd/GTE, also known as “Compliance Institute, Nigeria” (CIN) was registered on Thursday, 22nd January 2015 and commenced operations in 2017. The Institute was established to encourage, promote, and revive the consciousness of regulatory compliance within and outside the financial industry in the country.

The Institute seeks to create and build a body of professionals and corporate organizations from a range of industries established and recognised for integrity, professionalism, and strict adherence to regulatory and non-regulatory standards in and outside the business environment.