The Federal government and the United Kingdom have urged stakeholders in the Nigerian business community to integrate the newly introduced ISO 37003:2025 Fraud Control Management Systems and the Anti-Money Laundering Management Systems Standard into their daily operations to curb fraud and other corrupt practices.
Director-General of the Standards Organisation of Nigeria, SON, Dr. Ifeanyi Chukwunonso Okeke, made the call while addressing stakeholders in trade, commerce, and industry at the opening of a three-day awareness workshop on Fraud Control and Anti-Money Laundering Management Systems Standards.
He noted that the proposed ISO/NP 37013 would strengthen governance systems, enhance organisational integrity, and promote global best practices.
Represented by the Head of the Standards Development Department, Yunusa Mohammed, the Director-General said SON has taken a decisive step by introducing ISO/NWIP 37013, which provides a global framework for Anti-Money Laundering Management Systems to tackle evolving and increasingly sophisticated financial crime risks.
He described ISO 37003:2025 as a major milestone in the global fight against fraud, adding that the standard would help organisations effectively integrate fraud control into their governance and risk management structures.
SON noted that although regulatory anti-money laundering frameworks already exist, there is a growing global demand for a guidance-based international standard that organisations can systematically implement, objectively audit, and continuously improve.
A representative of the British Standards Institution, Andrew Adamson, advised organisations to view standards not as compliance burdens but as tools for promoting transparency, resilience, and competitiveness.
He added that proper implementation of ISO 37003 would significantly reduce incidents of money laundering, fraud, and other corrupt practices.
Chairman of the SON National Technical Committee on Governance, Professor Oserheimen Osunbor, urged business owners to adopt the standards, noting that effective implementation would help organisations guard against fraud-related risks and strengthen corporate governance.