GUIDELINES ON SHARED SERVICES ARRANGEMENTS FOR BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA

The Central Bank of Nigeria (CBN) recently issued the Guidelines on Shared Services which apply to financial institutions (including Fintech companies).

Specifically, the Guidelines regulate the shared services arrangements within financial institutions with group or holding structure including the types of services that can be shared, while also expanding the provisions of the Guidelines on Regulation of Financial Holding Companies was previously issued by the CBN.

In this newsletter, we highlight the key provisions of the shared services guidelines vis-à-vis applicability to the operations of financial institutions in Nigeria.

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