2018-10-26 | FPR/DIR/CIR/GEN/07/017

Code of Corporate Governance for Bureaux De Change in Nigeria

The Central Bank of Nigeria (CBN) issued a circular to all other financial institutions in the country, introducing a Code of Corporate Governance. This code aims to strengthen and reposition these institutions to perform their statutory roles effectively. The code covers areas such as board and management responsibilities, shareholder rights, disclosure and transparency, risk management, ethics and professionalism, and compliance. It emphasizes the importance of timely and robust disclosure beyond statutory requirements and encourages the use of websites and newsletters to communicate with stakeholders. The CBN will oversee compliance with the code, and failure to adhere will result in sanctions.

Nigeria

Central Bank of Nigeria

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