Recent Regulations, Guidelines And Policies Affecting The Banking And Finance Sector: September 2019 Edition

INTRODUCTION

In the month of September, the Central Bank of Nigeria (“CBN” or the “Bank”) has played an active role in
the Nigerian financial markets by issuing various circulars, guidelines and regulations that impact on,
amongst others, financial institutions, electronic transactions as well as the cashless policy, for the overall
improvement of the Nigerian economy. In this newsletter, we highlight and review key regulatory
publications issued by the CBN in September 2019.

REGULATORY UPDATES

This newsletter contains a review of the following regulatory publications:

• CBN Letter to all Development Finance Institutions (DFIs) on the Establishment and Operation of Subsidiaries and Special Purpose Vehicles (SPVs);

• CBN Letter to all Banks Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy;

• CBN Circular to all Other Financial Institutions and Mortgage Sector Stakeholders;

• CBN Circular on New Policies for Merchants Collections on Electronic Transactions;

• CBN Circular Re: The Implementation of the Cashless Policy;

• CBN Regulation on Electronic Payments and Collections for Public and Private Sectors in Nigeria; and

• CBN Guidelines on the Issuance and Treatment of Bankers Acceptances and Commercial Papers.

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