Regulatory Alerts2014-07-31 | DIR/OFISD/CIRExposure Draft Regulatory and Supervisory Guidelines for Development Finance Institutions DFIs in Nigeria
This document is a questionnaire sent by the Central Bank of Nigeria (CBN) to potential appointees or significant shareholders of a financial institution under its supervision. The purpose of this questionnaire is to gather necessary information about the individual's background, qualifications, and any potential conflicts of interest that may arise from their appointment. The questionnaire contains sections on: 1. Personal Information 2. Education and Professional Qualifications 3. Employment History 4. Directorships & Memberships in Other Institutions 5. Criminal Convictions (if any) 6. Conflicts of Interest and Related Party Transactions 7. Financial Soundness and Solvency 8. Miscellaneous Information The individual is required to answer these questions truthfully, and failure to do so could result in disqualification from the appointment or subsequent appointments by any financial institution under the purview of the CBN. The questionnaire also includes a declaration section for the appointee or significant shareholder to affirm that the information provided is true and accurate. This document highlights the thoroughness with which regulatory bodies like the CBN vet potential candidates for important positions within the financial institutions they oversee. It underlines the importance of transparency, integrity, and adherence to all applicable laws and regulations in these roles.