Regulation on the Scope of Banking Activities and Ancillary Matters (No. 3)
(enacted in 2010)
The Regulation on the Scope of Banking Activities and Ancillary Matters No. 3, issued by the Central Bank of Nigeria, repeals the Guidelines for the Practice of Universal Banking in Nigeria and provides rules to reduce the exposure of banks to higher operational risks.
The regulation consists of the following sections:
- Permitted Bank Types;
- General Prohibitions;
- Compliance Plan;
- Transition Provisions;
- Divestment from Related Enterprises; and
- Banking License.