2013-12-11 | BSD/DIR/CIR/GEN/LAB/06/053

Circular to all Banks and Discount Houses on the Implementation of Basel II in Nigeria

The Central Bank of Nigeria issued guidance notes on Basel II/III regulations in December 2013, requiring banks to adopt basic approaches for computing capital requirements for credit risk, market risk, and operational risk. These guidelines mainly adhere to the Basel II Accord but were adjusted to reflect Nigerian conditions. Banks must start parallel runs of both Basel I and II minimum capital adequacy computations from January 2014, transitioning fully by June 2014. Additionally, banks need to perform annual Internal Capital Adequacy Assessment Process reports for review by the CBN and comply with Basel II Pillar 3 disclosure requirements on a bi-annual basis."

Nigeria

Central Bank of Nigeria

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