Regulatory Alerts2009-01-29 | TED-FEM-FPC-GEN-01-010-09Added · Updated
Publication of Interest Rates
From January 2009, Nigerian banks must publish their all-inclusive average lending rates, including charges, commissions, and fees, as agreed at the Governor's breakfast meeting with bank CEOs. The Central Bank of Nigeria will include a footnote in its monthly publication to emphasize transparency, with non-compliance resulting in appropriate sanctions. This is to ensure that banks publish accurate rates for the benefit of the general public and can be found on the CBN website at www.cenbank.org.
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