Politically Exposed Person’s guidelines The Central Bank of Nigeria (CBN) has issued stringent guidelines to banks, aiming to prevent politically exposed individuals and entities from using the banking system to launder illegally sourced funds. In their circular titled “Guidance Note … Read More
CBN’s Latest Guidelines on Customer Due Diligence: What You Need to Know
CBN Customer Due Diligence Rule The Central Bank of Nigeria (CBN) has implemented new regulations regarding customer due diligence, aiming to combat financial crimes and enhance compliance with anti-money laundering and counter-terrorism financing standards. Hence, these regulations are known as … Read More
A Comprehensive Guide to Exploring the Types of CBN Licenses
Types of CBN Licenses When it comes to operating in the financial sector in Nigeria, obtaining the necessary licenses from the Central Bank of Nigeria (CBN) is crucial. The CBN issues various types of licenses to regulate and oversee different … Read More
Maximizing Benefits for New MFBs
Partnering with Agency Banking Networks in Nigeria: Microfinance Banks (MFBs) in Nigeria can reap numerous benefits from partnering with existing Agency Banking networks. As the banking industry continues to evolve, it’s essential for new MFBs to consider various opportunities that … Read More
Revolutionary Cash Redesign Takes Nigeria by Storm with DMBs and Super Agents
The Central Bank of Nigeria (CBN) has taken steps to ensure the successful implementation of its Naira Redesign policy by launching a cash swap program in partnership with Super Agents and Deposit Money Banks (DMBs). The program is aimed at … Read More
Naira Redesign Policy: CBN Launches Cash Swap Programme in Rural/Underserved Areas
In furtherance of its Naira Redesign policy, the Central Bank of Nigeria (CBN) has sustained its nationwide awareness/sensitization programmes, enforced speedy collection of the new notes at CBN branches by the Deposit Money Banks (DMBs) and mandated issuance of the … Read More
New Naira Notes Policy – CBN.
The Central Bank of Nigeria (CBN) has recently introduced a new Naira note as part of its efforts to combat counterfeiting and improve the overall security of the country’s currency. The new note features advanced security features such as a … Read More
