Regulatory Alerts2020-06-29 | FPR/DIR/GEN/CIR/07/057Added · Updated
CIRCULAR ON THE EXPANSION OF THE SCOPE OF REGIONAL BANKS IN NIGERIA
The Central Bank of Nigeria is expanding the scope of regional banks to promote financial inclusion. All banks with regional authorization must now operate in one additional geopolitical zone, bringing the total to a minimum of two zones. The compliance timeline for banks to establish a presence in the advised zone is six months from the regulatory advice issuance.
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