2020-10-16 | 20 OCT 2020

Re: Status of Chief Compliance Officers

The Central Bank of Nigeria has issued a letter to all merchant and regional banks, granting them permission to appoint Chief Compliance Officers at the level of Assistant General Manager or higher. The CCOs will report to the Executive Compliance Officers, who hold sole responsibility for compliance matters within their respective financial institutions. This update aligns with the CBN's previous circular from September 2016 regarding the appointment of ECOs and CCOs in deposit money banks.

Nigeria

Central Bank of Nigeria

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