Business News
eTranzact Pledges To Tackle Financial, Cyberspace Insecurities To Boost Nation’s Image
Managing Director/CEO, eTransact, Niyi Toluwalope
By Grace Alegba
eTranzact Plc has reaffirmed its commitment to compliance excellence to help Nigeria tackle all forms of financial and cyberspace insecurity issues towards boosting the nation’s global image and integrity.
Mr Niyi Toluwalope, Managing Director/CEO, eTranzact, in a statement on Tuesday said the firm demonstrated the commitment during a high-level training it hosted in partnership with the Nigerian Financial Intelligence Unit (NFIU).
He said the event was a clear demonstration of the firm’s institutional strength and regulatory foresight as Nigeria works its way off the Financial Action Task Force (FATF) grey list.
The session, facilitated by the NFIU, spotlighted critical regulatory expectations including Know Your Customer (KYC) protocols, transparency in Ultimate Beneficial Ownership (UBO) and the timely reporting of suspicious transactions.
The topics addressed operational gaps and aimed to close compliance loopholes across the financial services ecosystem.
Designed to steer Other Financial Institutions (OFls) toward full regulatory alignment, the workshop brought together compliance officers, regulators and key industry stakeholders.
Discussions focused on evolving global trends in Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) and financial intelligence—supporting Nigeria’s ongoing efforts to exit the Financial Action Task Force (FATF) grey list.
The move was considered crucial in restoring global financial confidence and credibility amidst rising global scrutiny on data integrity and financial transparency,
eTranzact seized the opportunity to underscore its proactive compliance posture.
Addressing staff and participants at the session, Niyi Toluwalope, Managing Director, eTranzact PIc made the company’s stance clear.
According to him, compliance for the firm is not an afterthought but it is woven into the very architecture of its operations.
“As Nigeria works its way off the FATF grey list, we see this not just as a national priority, but a shared responsibility that begins at the institutional level,” Toluwalope said.
He said the timing was apt as eTranzact had already advanced key upgrades across its compliance infrastructure.
He added that the firm had already deployed an automated anti-money laundering (AML) transaction monitoring system and intensifying its oversight on high-risk customers including Politically Exposed Persons (PEPs).
According to him, with secure, scalable systems and a strong internal governance framework, the fin-tech continues to position itself as a resilient leader in Nigeria’s digital financial landscape.
Chief Risk and Compliance Officer eTranzact PIc, Edward Onyenweaku, emphasised the operational backbone behind the measures.
“Our systems are built for adaptability and scalability.
“We are leveraging both technology and policy to ensure that regulatory shifts don’t catch us off guard. This training only sharpens that edge,” he said.
As Nigeria races to meet international anti-financial crime benchmarks, firms like eTranzact are proving that regulatory compliance and digital innovation can go hand in hand.
The fintech’s presence at the training was an active statement that security, transparency and infrastructure agility are not optional in today’s financial environment.
In an industry where reputations rise and fall with compliance lapses, eTranzact is staying afloat and setting the pace for fintechs infrastructure which guarantees security. (NAN)
-
Society News4 years agoJamaican man beheads wife after finding out their 6 kids are not his
-
Society News6 years agoEXCLUSIVE: The Complete Story of Dolapo Awosika, John Fashanu and Prophet Kasali Sex Mess
-
News5 years agoPastor Osagie Ize-Iyamu, His Membership Of Secret Cult, And Other Issues Touching On His Public Credentials Examined by Barr. PATRICK I. BIOSE
-
News5 years agoBREAKING: Ajimobi’s daughter-in-law blast Gov. Makinde, says gov can’t surpass ex-Oyo gov
-
News5 years agoBREAKING: 2 arrested as NAF begins investigations into Tolulope’s death
-
Crime5 years agoExclusive: Female Aide Fingered In Oko Oloyun’s Murder + Banking Transactions That Nailed Husband
-
Society News5 years agoThe Rise and Fall of “Jumoke The Bread Seller”
-
News5 years agoBREAKING: Police take over Edo House of Assembly as APC, Oshiomhole move to seize control
You must be logged in to post a comment Login