As part of the process of the implementation of the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Risk-Based Supervision (RBS) Framework, all Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) are mandated to render their AML/CFT returns to the Central Bank of Nigeria (CBN). However, the challenge of lack of an automated system to effectively carry out this function undermined the anticipated benefits of the RBS framework.

It was in response to this challenge and in a bid to quickly mitigate against the associated risks, that the AML/CFT Data Rendition and Processing System (ADRAPS) solution was designed and built, entirely in-house, to automate the major aspects of the operations of the AML/CFT Group of the Banking Supervision Department of the Central Bank of Nigeria. The solution addressed identified gaps such as manual submission processes of regulatory AML/CFT Foreign Transactions Report (FTR), Politically Exposed Persons (PEP) and Know-Your-Customer (KYC) returns data by the DMBs to the CBN. It further provides capability for the automation of the various back-office data analysis processes carried out by the AML/CFT team, as well as generation of various management reports.