2010-09-08 | NULL

CBN Scope, Conditions & Minimum Standards for Commercial Banks Regulations No. 01, 2010

The Central Bank of Nigeria (CBN) has issued the "Scope, Conditions & Minimum Standards for Commercial Banks" Regulations No. 1 in 2010 to provide guidelines on the minimum capital requirements and standards that commercial banks with international authorisation are required to meet. These include maintaining a minimum paid-up share capital of Fifty Billion Naira or such other amount as may be prescribed by the CBN, complying with prudential guidelines on capital adequacy, liquidity, and cash reserve, and observing corporate governance standards. The commercial banks are also expected to design, comply with, and implement an internal control framework and risk management framework that meet international standards.

Nigeria

Central Bank of Nigeria

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