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Tag: issues sweeping directive

  • Insider loans: CBN issues sweeping directive to banks

    Insider loans: CBN issues sweeping directive to banks

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    by

    Emman Ovuakporie
    in

    The Central Bank of Nigeria (CBN), Nigeria’s banking regulator has issued a sweeping directive asking many banks to comply with stricter insider lending limits or risk regulatory sanctions. This was contained in a letter to banks, where the Central Bank of Nigeria (CBN) set a 180-day deadline for financial institutions to regularize all insider-related credit…