2023-02-24 | PSM/DIR/CON/INM/019/098

Operational Guidelines for Open Banking in Nigeria

The Central Bank of Nigeria has revised the Code of Corporate Governance for Banks and Discount Houses, limiting the tenure of executive and non-executive directors at deposit money banks and financial holding companies to a maximum of ten and twelve years, respectively. These changes are intended to strengthen governance practices in the Nigerian banking industry by imposing term limits and cooling-off periods for key personnel.

Nigeria

Central Bank of Nigeria

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