Regulatory Alerts2026-04-23 | FDR/DIR/PUB/CIR/001/015Exposure Draft of the Guide to Charges by Banks and Other Financial Institutions in Nigeria, 2026 (The Guide)
The Central Bank of Nigeria has issued an exposure draft of the 2026 Guide to Charges by Banks and Other Financial Institutions, which standardizes fee structures to enhance transparency and promote financial inclusion. The updated guidelines require all interest and lending rates to be communicated on an Annual Percentage Rate (APR) basis and mandate that financial institutions provide specific disclosures in all credit offer letters. Institutions must submit comments on this draft to the CBN by May 08, 2026, with the final regulations scheduled to take effect on May 01, 2026.
Central Bank Of Nigeria
Central Bank Of Nigeria Financial Policy and Regulation Department Financial Policy and Regulation Department Central Business District, Cadastral Zone, Central Business District, Cadastral Zone, P.M.B 0187, Garki, Abuja P.M.B 0187, Garki, Abuja Telephone: +234 (0) 9 462 37401 Telephone: +234 (0) 9 462 37401 E-mail: fprd@cbn.gov.ng E-mail: fprd@cbn.gov.ng Website: www.cbn.gov.ng Website: www.cbn.gov.ng
FPR/DIR/PUB/CIR/001/015 FPR/DIR/PUB/CIR/001/015 April 21, 2026 April 21, 2026
CIRCULAR TO ALL BANKS, OTHER FINANCIAL INSTITUTIONS AND THE PUBLIC CIRCULAR TO ALL BANKS, OTHER FINANCIAL INSTITUTIONS AND THE PUBLIC
EXPOSURE DRAFT OF THE GUIDE TO CHARGES BY BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA, 2026 (THE GUIDE) EXPOSURE DRAFT OF THE GUIDE TO CHARGES BY BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA, 2026 (THE GUIDE)
In furtherance of the mandate to promote a safe and sound financial system in Nigeria, accelerate the adoption of innovative financial services, financial inclusion and micropayments/transaction, the Central Bank of Nigeria (CBN) has reviewed the extant Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions. In furtherance of the mandate to promote a safe and sound financial system in Nigeria, accelerate the adoption of innovative financial services, financial inclusion and micropayments/transaction, the Central Bank of Nigeria (CBN) has reviewed the extant Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions.
This reviewed Guide provides for an increased range of financial services, encourages development of innovative products, strengthens responsibility for oversight and accountability and promotes financial inclusion through lower tariffs for micropayments/transactions. Furthermore, the Guide reviewed some charges for banking services to encourage increased adoption of electronic channels and accommodates new industry participants since the issuance of the 2020 Guide. This reviewed Guide provides for an increased range of financial services, encourages development of innovative products, strengthens responsibility for oversight and accountability and promotes financial inclusion through lower tariffs for micropayments/transactions. Furthermore, the Guide reviewed some charges for banking services to encourage increased adoption of electronic channels and accommodates new industry participants since the issuance of the 2020 Guide.
In view of the above, the draft Guide is hereby exposed to members of the public for their comments/input on the proposed fees contained therein. Comments are to be sent to PolicyandRegulationsDivision@cbn.gov.ng on or before May 08, 2026. In view of the above, the draft Guide is hereby exposed to members of the public for their comments/input on the proposed fees contained therein. Comments are to be sent to PolicyandRegulationsDivision@cbn.gov.ng on or before May 08, 2026.
DR. RITA I. SIKE DR. RITA I. SIKE DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT