2014-07-09 | BSD/DIR/GEN/LAB/07/017

Circular on Bancassurance and Other Non-Permissible Activities

The Central Bank of Nigeria has observed that some banks are engaging in non-permissible activities, including bancassurance, and has directed banks to stop such practices immediately, warning of severe consequences for non-compliance. Tokunbo Martins, Director of Banking Supervision, emphasizes the importance of adhering to the CBN Scope, Conditions & Minimum Standards for Commercial Banks Regulations No. 01, 2010.

Nigeria

Central Bank of Nigeria

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