The Compliance Institute, Nigeria (CIN), a non-profit organisation is set to hold its fourth annual and first-ever virtual induction ceremony and Annual General meeting this Friday.
The event which would hold online via zoom will play host to the Director General, Corporate Affairs Commission, Alhaji Garba Abubakar as keynote Speaker with theme, ‘‘Overview of the Companies and Allied Matters act 2020’’.
Student members who have successfully completed the professional certification examinations of the institute in 2020, would be inducted, whilst deserving top performers in the examinations would be awarded prizes. Also expected at the ceremony are corporate titans from different sectors.
A total of 242 members who have successfully qualified for the award of the Institute’s compliance professional qualifications in examinations conducted in 2020 would be inducted
In 2020, 242 members took and passed the Designate, Compliance Professional (DCP) examinations. The Institute is also inducting one Associate, Compliance Institute, Nigeria (ACIN) who applied and got exemptions as a compliance practitioner with the requisite qualifications and experience) and three Honorary Fellowships of Fellow, Compliance Institute, Nigeria (FCIN) Certifications. All the certificates will be officially awarded.
The Annual General Meeting which will hold immediately online after the induction ceremony, will set a tone for significant developments on sanctions since august 2019, new trends in sanctions evasion, crypto-currency, challenges in sanctions compliance, how to do business post-Covid-19, whilst it’s would address the new realities and challenges that the global and local compliance industry faces, especially with the new world order.
Addressing journalists on the importance of how training of compliance Professionals help in combating crime, money-laundering and terrorist financing, President Compliance Institute, Nigeria, Pattison Boleigha said, ‘‘It is very instructive to note that the global compliance landscape is constantly evolving owing to several factors, including the dynamic nature of financial crimes, emerging money laundering and terrorist financing (ML/TF) threats, advancement in technology, and the ever-changing international standards, especially the FATF standards/methodology, with attendant rise in the number and complexity of legislative and regulatory frameworks, as well as progressive enforcement by authorities.
“Unfortunately, reporting institutions in low capacity countries, including Nigeria, until now, lacked the required capacity to keep pace with the changes in the compliance environment.”