Civil Societies undergo financial regulatory training in Sokoto

Civil Societies gets Financial Regulatory Compliance Training in Sokoto Headquarters of the Central Bank of Nigeria

Members of the Civil Society Organisations in Sokoto State are undergoing a two day capacity building training on regulatory framework compliance.

The workshop covers four purpose regulatory frameworks which are Taxation , Corporate governance, pensions and anti money laundering controls

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The programme is an EU-ACT programme of the British Council aimed at equipping the CSOs to understand regulations and their obligation to comply to them.

The Report

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Civil Society Organisations are non-profit and nonstate organisations where people organise themselves to pursue shared interests in the public domain outside their personal interest and that of their immediate family.

The civil Society organisations are technically non commercial entities, yet the Corporate affairs Commission regard them as entities to be regulated and as such require their registration as incorporated Trustees.

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The Nigeria Company and Allied Matters Act 2020 contains new provisions that empowers the CAC to have certain control over the activities of the CSOs

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And this become necessary to check the CSOs from being used as vehicles of illicit activities such as terrorism financing, money laundering and other fraudulent activities that may jeopardize state and national interests.

To ensure compliance to the provisions of CAMA 2020, and other regulatory frameworks for CSOs, members of civil society organisations are undergoing a two day capacity training

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Participants at the training say, most of the CSOs in the state operate in a transparent manner, but agree that, the regulations and checks put in place are necessary to guard against jeopardizing national interests.

Participants also agree that the training will equip them with the requisite skills and technicalities expected for compliance to regulations to strengthen

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