Regulatory Alerts2007-09-27 | TED-FEM-FPC-GEN-01-118-07Guidelines for the Development of Risk Management Frameworks Individual Risk Elements in Nigerian Banks
In September 2007, the Central Bank of Nigeria released a circular containing finalized guidelines for developing risk management frameworks in Nigerian banks. These minimum requirements, first drafted in August 2006 and updated with stakeholder feedback, were intended to assist banks in improving their risk management practices. The document can be accessed on the CBN website (www.cenbank.org).
09-61636403 09-61636418 September 24, 2007 BSD/DIR/CIR/V1/011 CIRCULAR TO ALL BANKS: GUIDELINES FOR THE DEVELOPMENT OF RISK MANAGEMENT FRAMEWORKS FOR INDIVIDUAL RISK ELEMENTS IN NIGERIAN BANKS It would be recalled that, in August 2006, the draft of the above document was issued to the stakeholders for comments and suggestions. The feedback received was quite helpful in reviewing the document which has now been finalized. The document contains minimum requirements meant to assist banks in developing their risk management frameworks. Consequently, the Central Bank of Nigeria by this circular, formally releases the guidelines, which can also be accessed electronically at the CBN website www.cenbank.org .
G.A. OLADEJOBI FOR: DIRECTOR OF BANKING SUPERVISION