AML / CFT policy

SmartAza is operated by Transingenium Innovations Ltd as a feature of Owoche. We comply with Nigerian Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations, in cooperation with our CBN-licensed payment partners.

Customer due diligence

Senders are KYC-verified inside the Owoche app before being able to create a SmartAza. Per-tier transaction limits and daily outflow ceilings apply — see the Owoche app for current limits.

Recipient-side controls

Each SmartAza is capped at ₦50,000 and is single-use. Cashouts to a bank account go through provider-side account-name resolution before any transfer is initiated. Patterns indicative of layering or smurfing are flagged for review.

Suspicious activity reporting

Suspected money-laundering or terrorism-financing activity is reported to the Nigerian Financial Intelligence Unit (NFIU) in line with statutory timelines.

Record keeping

Transaction records, identification data, and audit logs are retained for a minimum of five (5) years as required by law.

Sanctions screening

Bank-cashout destinations are screened against applicable sanctions lists through our payment partners. Matches block the transfer pending compliance review.