Regulatory Alerts2014-07-25 | CPD/MCD/GEN/STK/01/045Added · Updated
Exposure of Draft Recommendation For Time Bar on Consumer Complaints
The Central Bank of Nigeria (CBN) has proposed a time bar of six years from the date of transaction for managing complaints in the financial industry. This follows a previous request to stakeholders regarding the desirability of placing such a limit on consumer complaints, with consideration given to input received, other jurisdictions' practices, and relevant Nigerian laws. The CBN invites comments on this proposed recommendation within two weeks.
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