Regulatory Alerts2019-09-06 | OFI/DIR/GEN/CIR/07/033Added · Updated
Guide To Charges By Banks And Other Financial Institutions In Nigeria (May 2017 - Removal of Interest Rate and Cap In Respect Of Part 2 Section 2.1.3)
The Central Bank of Nigeria issued a circular to financial institutions and mortgage sector stakeholders, announcing an amendment to the Guide to Charges. The amendment removes the maximum cap on mortgage finance rates, allowing these rates to be negotiable between banks and borrowers. This change takes effect on September 9, 2019.