Do AI or machine-learning monitoring models need independent testing?

Yes. As reported from the circular, institutions must perform independent validation of AI and machine-learning models at least annually and when they change significantly, covering accuracy, performance drift, fairness and bias.

The June 2026 roadmap date has passed — what now?

If you submitted a roadmap, the work now is delivering it and keeping evidence that each milestone was met. If you did not, speak to your compliance adviser and the CBN promptly; the full compliance dates (September 2027 for banks, March 2028 for others) still apply.

CBN Automated AML Baseline Standards: Deadlines & Checklist

Short answer: On 10 March 2026 the Central Bank of Nigeria (CBN) issued the Baseline Standards for Automated Anti-Money Laundering (AML) Solution for Financial Institutions in Nigeria. Institutions had 3 months to submit an implementation roadmap (about 10 June 2026). Deposit money banks must fully comply within 18 months (about 10 September 2027); other financial institutions — including CBN-licensed payment and fintech companies — within 24 months (about 10 March 2028) ¹².

Last updated 3 October 2026. This page summarises public sources and is not legal advice; always check the circular itself.

Timeline at a glance

Date	Milestone
20 May 2025	CBN publishes the draft standards for consultation ³
10 March 2026	Final Baseline Standards issued ¹
~10 June 2026	Implementation roadmap due (3 months after issuance)
~10 September 2027	Deposit money banks: full compliance (18 months)
~10 March 2028	Other financial institutions: full compliance (24 months)

Dates marked ”~” are calculated from the issuance date; the circular expresses them as periods after issuance.

What the standards expect, in plain terms

Based on public reporting of the circular (read the circular for the exact wording and scope), an automated AML solution is expected to cover:

Customer due diligence and risk scoring that updates as customer behaviour changes, integrated with Nigerian identity sources (BVN/NIN).
Transaction monitoring that runs automatically, close to real time, with documented scenarios and thresholds.
Sanctions and watch-list screening against local and international lists.
Regulatory reporting — suspicious and currency transaction reports — to the Nigerian Financial Intelligence Unit (NFIU) with an auditable trail.
Model governance where AI or machine learning is used: independent validation at least annually and on significant change, covering accuracy, drift, fairness and bias ².

Readiness checklist

Use this to see where you stand. Each item should be backed by evidence you could hand to an examiner, not just a policy.

Roadmap: the roadmap you submitted (or should have), with owners and dates for each milestone.
Inventory: every system that touches onboarding, transactions, screening and reporting, and which of them are automated today.
Scenarios and thresholds: written monitoring scenarios, why each threshold was chosen, and when it was last tuned.
Alert handling: how alerts are reviewed, escalated and closed, with timestamps and reviewer names.
NFIU reporting: proof that STR/CTR filings are triggered and filed on time.
Screening coverage: which lists, how often they update, and how matches are resolved.
Model validation: if you use AI/ML, the last independent validation report and the next scheduled one.
Change control: records showing that changes to rules or models were tested and approved before going live.
Data quality: reconciliation showing monitoring sees all transactions.
Board oversight: minutes or reports showing management reviewed AML performance.

How StackWeaver helps

StackWeaver keeps this evidence in one place: each item is recorded with a fingerprint, reviewed, signed off and exportable as a verifiable evidence package for your examiner, auditor or partner bank. See the CBN AML/CFT solution, run the CBN readiness calculator, or talk to us.

Sources

Central Bank of Nigeria, Issuance of Baseline Standards for Automated Anti-Money Laundering (AML) Solution for Financial Institutions in Nigeria, 10 March 2026 (ref. BSD/DIR/PUB/LAB/019/002). https://www.cbn.gov.ng/Out/2026/CCD/CBN%20issues%20Baseline%20Standards%20for%20Automated%20Anti-Money%20Laundering%20Solution.pdf ↩ ↩²
TheCable, “CBN directs banks to deploy automated anti-money laundering systems within 18 months”, March 2026. https://www.thecable.ng/cbn-directs-banks-to-deploy-automated-anti-money-laundering-systems-within-18-months/ ↩ ↩²
Nairametrics, “Banks face 12-month deadline as CBN unveils AI-driven anti-money laundering standards”, 21 May 2025 (draft). https://nairametrics.com/2025/05/21/banks-face-12-month-deadline-as-cbn-unveils-ai-driven-anti-money-laundering-standards/ ↩