Niger AML & Sanctions Compliance - ANQA

Niger AML & Sanctions Compliance

Navigate Niger's evolving financial regulatory landscape with Anqa's comprehensive compliance solutions designed for West Africa's emerging financial sector.

Niger Overview

Niger has strengthened its AML/CFT framework in recent years, with the Central Bank of West African States (BCEAO) and the National Financial Information Processing Unit (CENTIF-Niger) as the primary regulators overseeing the financial sector. The country is actively working to align its practices with international standards, particularly as a member of GIABA.

Regulatory Framework

Niger's approach to Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) is anchored by a framework of national laws, such as Law No. 2016-011, and regional directives. This framework establishes the legal and operational mechanisms for preventing, detecting, and prosecuting financial crimes.

The AML/CFT framework in Niger is primarily governed by Law No. 2016-011 on Combating Money Laundering and Terrorism Financing. This is complemented by supporting regulations and directives issued by key national and regional bodies, including:

  • National Financial Information Processing Unit (CENTIF-Niger): Niger's Financial Intelligence Unit (FIU), responsible for receiving, analyzing, and disseminating suspicious transaction reports (STRs) and other financial intelligence.
  • Central Bank of West African States (BCEAO): The regional central bank for WAEMU (West African Economic and Monetary Union) member states, including Niger. It issues prudential regulations and AML/CFT directives applicable to banks and financial institutions.
  • Banking Commission of WAEMU: The regional banking supervisor, responsible for the oversight and control of credit institutions within WAEMU, ensuring compliance with banking regulations, including AML/CFT obligations.
  • Insurance Control Commission (CAC - Conférence Interafricaine des Marchés d'Assurances - CIMA): While CIMA is the regional body, Niger has national structures that enforce CIMA's insurance code, which includes AML/CFT provisions for the insurance sector.

FATF Status & Engagement

Summary of FATF Standing & Key Issues

Key References/Verification

Compliance Requirements

Financial institutions and Designated Non-Financial Businesses and Professions (DNFBPs) operating in Niger are mandated to implement a range of AML/CFT measures in line with Law No. 2016-011 and relevant BCEAO/WAEMU directives. These measures are designed to prevent the misuse of the financial system for money laundering or terrorist financing.

Core Obligations

  • Customer Due Diligence (CDD) / Know Your Customer (KYC): Financial institutions must conduct risk-based customer due diligence. Enhanced due diligence required for high-risk customers, including PEPs, with particular attention to mining operations, cross-border trade, and activities within free trade zones.
  • Beneficial Ownership Identification: Requirements to identify and verify beneficial owners with a threshold of 25% ownership or effective control. Efforts are ongoing to strengthen the beneficial ownership registry and its accessibility.
  • Transaction Monitoring: Financial institutions must implement systems to detect suspicious transactions, with specific attention to mining-related payments, large cash transactions, and those involving high-risk informal sectors like gold trade.
  • Record Keeping: Minimum 10-year retention period for all customer records and transactions, with specific requirements for mining-related documentation and free trade zone transactions.
  • Reporting Obligations: Suspicious Transaction Reports (STRs) must be filed with CENTIF-Niger within 48 hours of detection. Cash Transaction Reports (CTRs) are required for transactions exceeding 5 million CFA francs.

Key Challenges (Compliance Context)

  • Mining Operations & Informal Gold Trade: Complex and often informal mining operations, particularly gold, create significant ML/TF vulnerabilities due to cash intensity and cross-border smuggling.
  • Porous Borders & Cross-Border Trade: Extensive and porous borders facilitate illicit trade, smuggling, and movement of funds, requiring enhanced due diligence and monitoring.
  • Free Trade Zones (FTZs): The presence of FTZs requires sophisticated monitoring of business activities and financial flows to prevent misuse for illicit purposes.
  • Institutional Capacity & Resources: Limited resources and technical capacity within regulatory bodies and reporting entities can hinder effective AML/CFT supervision and implementation.
  • Emerging Digital Finance: Rapid growth of mobile money and digital financial services introduces new typologies and requires adaptive regulatory responses and enhanced monitoring capabilities.

Sanctions Considerations

Niger implements UN Security Council Resolutions (UNSCRs) through domestic legislation and regional (WAEMU/BCEAO) directives. Financial institutions and DNFBPs must screen customers and transactions against UN sanctions lists and any applicable national or regional lists. Vigilance is crucial for transactions linked to mining operations (especially gold), cross-border trade, free trade zones, and regions affected by conflict or terrorism, as these can be exploited to circumvent sanctions or finance illicit activities.

Enhanced due diligence should be applied to transactions involving PEPs, state-owned enterprises, and companies in sectors vulnerable to financial crime, such as natural resource extraction, due to factors like limited oversight, corruption risks, and potential links to armed groups or illicit networks.

Key Compliance Challenges in Niger

Understanding the unique obstacles facing financial institutions and DNFBPs in Niger

1

Artisanal & Small-Scale Mining (ASM)

The largely informal ASM sector, especially gold, presents high ML/TF risks due to cash transactions, limited traceability, and cross-border smuggling networks.

2

Terrorism Financing & Regional Instability

Proximity to conflict zones and the presence of terrorist groups in the Sahel region elevate TF risks, with illicit proceeds potentially transiting through Niger.

3

Cash-Based Economy & Informal Value Transfers

High reliance on cash and informal value transfer systems (IVTS) like Hawala complicates financial transparency and AML/CFT enforcement.

4

Weak Beneficial Ownership Transparency

Challenges in identifying and verifying ultimate beneficial owners, particularly in sectors like mining and for entities using complex structures, hinder transparency.

5

Resource Constraints for Supervision

Limited human and technical resources within CENTIF-Niger and other supervisory bodies can impact the effectiveness of AML/CFT oversight and enforcement.

6

Effectiveness of Free Trade Zone Controls

Ensuring adequate AML/CFT controls and supervision within Free Trade Zones to prevent their misuse for illicit financial activities remains a challenge.

Anqa's Approach for Niger: The Platform

Our comprehensive AML solution tailored for Niger's unique regulatory landscape, incorporating Law No. 2016-011, CENTIF-Niger guidelines, and WAEMU regional standards.

1

Niger KYC/CDD & Onboarding Hub

Streamlined digital onboarding with robust identity verification adapted to Nigerien documentation. Configurable workflows address CDD requirements under Law No. 2016-011, with specific modules for mining sector entities and FTZ operators.

Benefit: Enhances customer identification, supports compliance with CENTIF-Niger and BCEAO, managing risks in ASM, cash, and FTZ contexts.

2

Risk-Based Approach for Niger

Dynamic risk scoring engine assessing customer profiles, transaction patterns (including gold trade), and geographical factors, with parameters customizable for Niger's high-risk areas (e.g., porous borders, ASM zones) and TF typologies.

Benefit: Enables precise, automated risk-based approach mandated by Nigerien AML laws, helping prioritize EDD for mining, cross-border trade, and TF risks.

3

Comprehensive Sanctions & Watchlist Screening

Real-time screening against UN, OFAC, EU sanctions lists, PEP databases, and adverse media. Includes specific focus on WAEMU regional lists and Niger-specific watchlists relevant to terrorism financing and local/regional threats.

Benefit: Supports adherence to international and regional sanctions, crucial for mitigating risks from high-risk entities and addressing TF concerns in Niger.

4

Enhanced Transaction Monitoring (Mining, Cash & TF)

Advanced monitoring with scenario-based rules for XOF cash transactions, ASM gold trade, IVTS, and TF typologies. Supports CTR generation for CENTIF-Niger and specific alerts for high-risk mining sector payments.

Benefit: Detects suspicious activities aligned with Niger's specific economic and security context (mining, cash, TF), facilitating timely STR filing.

5

Audit Trail & Regulatory Reporting (CENTIF-Niger)

Immutable audit logs for all compliance activities. Streamlined case management and reporting tools, with templates adaptable for CENTIF-Niger submissions and BCEAO/WAEMU oversight requirements.

Benefit: Ensures accountability, simplifies audits, and assists Nigerien institutions in meeting reporting duties efficiently to CENTIF-Niger.

6

Localized for Niger (French Language & Support)

Platform interface and support available in French. Flexible deployment (cloud/on-premise) for Niger's infrastructure. Training geared towards local teams and regulatory understanding (Law No. 2016-011, CENTIF-Niger processes).

Benefit: Offers an accessible AML solution for Nigerien institutions, enhancing adoption and effective utilization of compliance tools to meet national expectations.

Anqa: Partnering for AML/CFT Excellence in Niger

Anqa is committed to supporting Niger in its endeavors to fortify its AML/CFT regime, particularly in addressing the unique challenges posed by its extensive mining sector, porous borders, and the complexities of its informal economy. Our platform is more than software; it's a strategic tool designed to cultivate a strong compliance culture within Niger's financial institutions and DNFBPs.

By providing solutions that enhance transparency in high-risk sectors like gold trading, improve risk management related to cross-border flows, and streamline regulatory reporting to CENTIF-Niger, we aim to empower Nigerien entities. Our goal is to help them effectively meet their obligations under Law No. 2016-011, thereby contributing to the integrity of Niger's financial system and supporting its efforts towards sustainable development and enhanced international standing.

Niger — AML & Compliance FAQs

  • Banks, MFIs, and fintechs in Niger must conduct customer due diligence, assess transaction risks, report suspicious activity, and comply with record-keeping rules under CENTIF-Niger.

  • Yes. Telecoms and mobile money operators in Niger are subject to AML/CFT laws and must implement customer onboarding checks, risk scoring, and ongoing monitoring.

  • The Cellule Nationale de Traitement des Informations Financières (CENTIF-Niger) is the designated financial intelligence unit responsible for AML enforcement and suspicious transaction oversight.

  • Yes. NGOs, particularly those handling cross-border funding, must screen beneficiaries and partners against UN sanctions and conduct enhanced due diligence where required.

  • Anqa helps small organizations in Niger meet compliance standards through automated onboarding, risk scoring, and sanctions list screening — without requiring large teams or expensive software.