KYC requirements in Nigerian banking principally aim to combat:
ATax planning
BMoney laundering and terrorist financingCORRECT
CCurrency volatility
DInsider trading
CIBNBanking Law
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
KYC under MLPPA 2022 and CBN AML/CFT regulations requires identity verification to combat ML/TF.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →
Practice more Banking Law questions
CIBN Banking Law has thousands more questions like this — with Worked answers on every one.