The Central Bank of Nigeria (CBN) has released an exposure draft of regulatory guidelines for change of operating licence for banks and Other Financial Institutions (OFIs) in the country. In a circular issued on 28th March and signed by its Director, Financial Policy and Regulation Department, Chibuzo Efobi, the apex indicated that the guidelines were […]
The Central Bank of Nigeria (CBN) has issued new guidelines for improved cybersecurity in the Nigerian financial system, particularly among the Other Financial Institutions (OFIs). The guidelines outline the requirements the OFIs were requested to observe in the development and implementation of strategies, policies, procedures and related activities aimed at mitigating cyber risks. The apex […]
The Central Bank of Nigeria (CBN) has released a framework to protect Other Financial Institutions (OFIs) against cybercrimes attack. The apex bank, in a memo issued on Tuesday by its Director, Other Financial Institutions Supervision Department, Nkiru Asiegbu, and addressed to the OFIs, stated that the framework was necessitated by the rising incidents and sophistication […]