The hottest Regulatory Substack posts right now

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Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/010

RegAlert • 0 implied HN points • 06 Oct 23
💰 Finance Regulatory Banking Nigeria
  1. The Central Bank of Nigeria has appointed three additional designated banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS). Authorized dealers are instructed to inform their exporting customers about this change.
  2. The appointment of designated banks signifies a shift in the process for collection of fees under the NESS, bringing more clarity and convenience for exporting customers.
  3. This circular, TED/FEM/PUB/FPC/001/010, outlines an important update regarding the collection of fees, emphasizing the need for all involved parties to be informed and compliant with the changes.

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/019/098

RegAlert • 0 implied HN points • 09 Mar 23
💰 Finance Regulatory Banking Financial inclusion Security
  1. The Central Bank of Nigeria has issued a draft for a regulatory framework for agent banking to enhance financial inclusion and provide more access to financial services.
  2. The draft framework aims to streamline operations at agent locations and improve the security of customers' funds.
  3. Banks, financial institutions, payments service providers, and the public have been invited to share their feedback on the draft by March 22, 2023.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/01/004

RegAlert • 0 implied HN points • 14 Dec 22
💰 Finance Regulatory Banking Fraud Compliance
  1. Central Bank of Nigeria warns against illegal activities by Money Transfer Operators (MTOs) in Nigeria, emphasizing the need to make payments in US Dollars as per regulations.
  2. Banks found supporting unlicensed MTOs in terminating payments in Naira instead of US Dollars will face sanctions, as per the circular TED/FEM/PUB/FPC/01/004.
  3. Reminder for banks and MTOs to pay out diaspora remittance proceeds only in US Dollars and follow the guidelines for International Money Transfer Operations.

Alert: Central Bank of Nigeria Circular CCD-06122022

RegAlert • 0 implied HN points • 06 Dec 22
💰 Finance Regulatory
  1. Individuals in Nigeria can withdraw up to N100,000 per week and N20,000 per day via ATM, while corporate organizations have a higher withdrawal limit.
  2. Third party cheques exceeding N50,000 will not be accepted for payment over the counter.
  3. Financial institutions in Nigeria must adhere to the specified cash withdrawal limits outlined by the Central Bank of Nigeria Circular CCD-06122022.
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Alert: Central Bank of Nigeria Circular TED/FEM/FPC/GEN/01/002

RegAlert • 0 implied HN points • 25 Feb 22
💰 Finance Regulatory Central Bank Foreign Exchange
  1. The Central Bank of Nigeria has introduced the RT200 Programme to reduce exposure to volatile foreign exchange sources and earn more stable inflows.
  2. The CBN has issued guidelines for the implementation of the RT200 Non-Oil Export Rebate scheme that Authorized Dealers must comply with immediately.
  3. The guidelines for the RT200 Programme are aimed at creating a more sustainable and stable foreign exchange system.

Alert: Central Bank of Nigeria Circular OFI/DOA/CON/CIR/003/061

RegAlert • 0 implied HN points • 12 Aug 21
💰 Finance Regulatory Cyber Security Banking
  1. The Central Bank of Nigeria has released a circular regarding a risk-based cyber security framework for Other Financial Institutions.
  2. The circular is titled OFI/DOA/CON/CIR/003/061 and was published on August 12, 2021.
  3. Interested parties can download the details of the framework and guidelines from the official Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular NTBs Issue Programme

RegAlert • 0 implied HN points • 01 Jun 21
💰 Finance Regulatory Banking Economy
  1. The Central Bank of Nigeria has released a circular outlining the Treasury Bills issue programme for the third quarter of 2021, detailing the dates, values, and amounts for the 91-day, 182-day, and 364-day bills.
  2. The total value of the Treasury Bills issued for the quarter is 121,376,867, but it is important to note that the offer amounts are subject to change with short notice.
  3. Further details about the NTBs Issue Programme can be found by downloading the document provided in the post from the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular FMD

RegAlert • 0 implied HN points • 18 Mar 21
💰 Finance Regulatory Banking Investing Economy Policy
  1. The Central Bank of Nigeria has issued a circular regarding the Nigerian Treasury Bills Issue Programme for the second quarter of 2021.
  2. Financial institutions are being asked to participate in this programme, with specific dates and values provided for the maturing bills and the issue bills.
  3. It's important to note that the offer amounts mentioned in the circular are subject to change at short notice.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/01/001

RegAlert • 0 implied HN points • 03 Mar 21
💰 Finance Regulatory Central Bank Covid-19 Impact Interest Rates Financial Institutions
  1. Central Bank of Nigeria has extended reduced interest rates for another twelve months on CBN intervention facilities.
  2. Financial institutions can roll over moratorium on CBN intervention facilities on a case-by-case basis.
  3. Regulatory forbearance measures are in place for restructuring credit facilities impacted by COVID-19.