Regulatory Alerts2007-09-27 | TED-FEM-FPC-GEN-01-120-07Guidelines for the Development of Risk Management Frameworks for Individual Risk Elements in Nigerian Banks (a)
The Central Bank of Nigeria has released the final version of the guidelines for risk management frameworks for banks, which can be accessed on their website. The guidelines were developed after receiving feedback from stakeholders and are meant to assist banks in creating effective risk management frameworks. The document sets out minimum requirements that banks must adhere to.
09-61636403 09-61636418 September 24, 2007 BSD/DIR/CIR/V1/011 CIRCULAR TO ALL BANKS: GUIDELINES FOR THE DEVELOPMENT OF RISK MANAGEMENT FRAMEWORKS FOR INDIVIDUAL RISK ELEMENTS IN NIGERIAN BANKS It would be recalled that, in August 2006, the draft of the above document was issued to the stakeholders for comments and suggestions. The feedback received was quite helpful in reviewing the document which has now been finalized. The document contains minimum requirements meant to assist banks in developing their risk management frameworks. Consequently, the Central Bank of Nigeria by this circular, formally releases the guidelines, which can also be accessed electronically at the CBN website www.cenbank.org .
G.A. OLADEJOBI FOR: DIRECTOR OF BANKING SUPERVISION