2014-07-09 | BSD/DSIR/GEN/LAB/07/017

Bancassurance and Other Non-Permissible Activities

The Central Bank of Nigeria has expressed concern over non-permissible activities such as bancassurance, violating the CBN's regulations on Commercial Banks. As a result, banks must cease these activities or face severe penalties. Adhere to the provisions in the regulation "Scope, Conditions & Minimum Standards for Commercial Banks Regulations No. 01, 2010". The Director of Banking Supervision, Tokunbo Martins (Mrs.), is responsible for enforcing these measures.

Nigeria

Central Bank of Nigeria

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