The Standards Organisation of Nigeria (SON) is urging organisations of all sizes and sectors, including government agencies, private companies, small and medium enterprises, and non-profit entities to embed fraud control measures into their governance, risk management, and operational processes.
The Director-General and Chief Executive of SON, Dr. Ifeanyi Okeke, made the call today during the launch of its ISO 37003:2025, an international standard on Fraud Control Management Systems.
“The ISO 37003:2025 provides organisations with a comprehensive framework to prevent, detect, and respond to fraud. Unlike traditional compliance-driven approaches, the standard adopts a management systems model that enables organisations to embed fraud control measures into their governance, risk management, and operational processes.
“Fraud undermines trust, weakens institutions, and threatens sustainable development,” Okeke said, emphasising that ISO 37003 offers a practical and scalable framework that organisations can implement to strengthen internal controls and build resilience against financial crimes.
Adoption, he added, is designed to be proportionate to the size, structure, and risk profile of each organisation.
