CBN Publishes Guidelines for Approved Persons' Regime for Financial Institutions

Regulators
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Thursday22nd October 2015, 12.20.PM/CBN

The CBN after reviewing and incorporating comments from various stakeholders in respect of the Exposure Draft on the “Revised Assessment Criteria for Approved Persons’ Regime for Financial Institutions” dated September 30, 2014, issues the following Guidelines and accompanying Questionnaire on Approved Persons’ Regime for compliance for Banks and Other Financial Institution in Nigeria.

From the Guidelines , prospective appointees to board and top management  positions as well as major shareholders of Banks and other Financial other In situation in Nigeria are required to complete and submit the questionnaire to Banking Supervision Department for CBN prior approval of their appointments.

The requirement of these Guidelines comes into effect from January 1st, 2016.

 



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