Regulatory Alerts2005-03-30 | TED-AD-38-2005Revised Procedures Manual for Processing Application for Bank Mergers/Takeovers
The Central Bank of Nigeria has issued a revised procedures manual for processing bank merger and takeover applications, as stated in the previous circular from December 20, 2004. The new manual, available on their website (www.cenbank.org/documents/bsdpublications.asp), highlights crucial paragraphs regarding definition of mergers/takeovers, timelines for processing and approvals, and necessary documentation requirements. Contact the helpdesk or webmaster in case of downloading issues.
09 616 36403 09 616 36418 BSD/06/2005 March 30, 2005 CIRCULAR TO ALL BANKS REVISED PROCEDURES MANUAL FOR PROCESSING APPLICATION FOR BANK MERGERS/TAKEOVERS Further to our circular reference number bsd/15/2004 of December 20, 2004, the Central Bank of Nigeria has issued a revised procedures manual for processing applications by banks for mergers and takeovers. The new manual is available on the website of the CBN (www.cenbank.org/documents/bsdpublications.asp).
Attention is particularly drawn to the following paragraphs: 3.1 & 3.2 Definition of merger and takeover 6.1 & 6.2 Timelines for processing and conveying approvals 7.1 - 7.4 Documentary requirements 9.4.3 Final approval process If any problem is encountered in downloading the document, please contact bankconsohelpdesk@cenbank.org or webmaster@cenbank.org O. I. IMALA DIRECTOR OF BANKING SUPERVISION