2014-07-04 | BSD/GCA/BAS/CON/01/115

Extension of Parallel Run of Pillar I of Basel II Implementation

In December 2013, the Central Bank of Nigeria (CBN) introduced guidelines for Basel II/III implementation in the banking sector, directing banks to commence a parallel run of Pillar I in January 2014. Due to initial challenges, the CBN has extended the parallel run by three months, with full adoption beginning on October 1, 2014. During this time, banks are required to reassess their capital levels to meet minimum requirements and continue submitting monthly returns.

Nigeria

Central Bank of Nigeria

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