Guidelines for the Practice of Universal Banking in Nigeria

Nigeria

(enacted in 2000)

The Guidelines for the Practice of Universal Banking in Nigeria, issued by the Central Bank of Nigeria in 2000, set out guidelines to implement universal banking in Nigeria.

The guidelines cover the following topics:

  • Activities that banks can undertake;
  • Clearing house activities;
  • Underwriting/issuing house activities;
  • Insurance activities;
  • Supervisory framework under universal banking; and
  • Need for self regulatory organizations.

Note that these Guidelines were repealed by Regulation on the Scope of Banking Activities and Ancillary Matters, No. 3, 2010.