Regulatory Alerts2019-04-12 | BSD/DIR/GEN/LAB/12/011/2Added · Updated
Guidance Notes on Disclosure Requirements to Promote Transparency & Market Discipline for Non-Interest Financial Institutions in Nigeria
The Central Bank of Nigeria's Guidance Notes outline disclosure requirements for non-interest financial institutions to promote transparency and market discipline. The notes cover areas such as risk management, capital structure, investment accounts, credit risk, and operational risk. NIFIs must have a formal disclosure policy approved by their board of directors and implement processes for assessing disclosure appropriateness. Disclosures should be made through websites, prospectuses, flyers, and audited financial statements, with a focus on material information.
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