Regulatory Alerts2010-08-02 | FPR/DIR/CIR/CFP/VOL.1/003Establishment of a Procedure for Handling Separated Bank Employees' Clearance and Issuance of References
The Central Bank of Nigeria has issued a circular to all banks, discount houses, and other financial institutions, directing them to establish a procedure for handling separated employee clearances and issuing references within 60 days of receiving a request. Banks that fail to comply will face appropriate sanctions. This directive is effective immediately and aims to resolve the increasing disputes between banks and exiting employees over clearance certificates.
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enforcement
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