Release of Information Technology (IT) Standards to the Industry

INFORMATION TECH. DEPT Tel: 09 - 61636103 Fax: 09 - 61636104 CENTRAL BANK OF NIGERIA Ahmadu Bello Way, Central Business District P.M.B. 0187, Abuja.

Ref: ITD/DIR/GEN/INC/01/001 TO: ALL BANKS CIRCULAR TO BANKS ON RELEASE OF INFORMATION TECHNOLOGY (IT) STANDARDS TO THE INDUSTRY Pursuant to the need to identify and adopt global IT Standards which would provide guidelines for and serve as reference points in ensuring the quality of IT service delivery in the Nigerian Banking Industry, through the IT Infrastructure Transformation programme sponsored by the Bankers' Committee in 2010, the Blueprints for the IT Standards and the Governance framework has been defined and now, by this circular, released to the industry for adoption by all banks. It is available on the CBN website pending the completion and launching of the Bankers' Committee IT Standards portal where it will be hosted permanently, and can be accessed by opening the "IT Standards Blueprint" link under the "Quick links" found at the left hand side of the CBN website home page.

A five-year implementation roadmap for the IT Standards has been defined within which banks are expected to implement in accordance with the set timelines and the defined priorities. Implementation shall be in a continuum approach such that initial implementations would target maturity level 3 and subsequently improved to include certifications and higher maturity levels. The IT Standards Council, to be reconstituted after every two years, has been put in place to drive the adoption, implementation and compliance to the IT Standards in the Banking Industry. The compliance audits shall begin at the end of the prescribed adoption periods as indicated on the implementation roadmap. Baseline assessment for priority 1 standards shall be carried out in banks in quarter 1 of 2014.

John Ayoh, Director, Information Technology Department.