The Central Bank of Nigeria (CBN) has developed distinct
governance codes of corporate governance for Other Financial
Institutions (OFIs) under its supervision.
These OFIs include primary mortgage
institutions, microfinance banks, mortgage refinance companies,
development finance institutions, bureau de change and finance
companies.
The central bank also explained in draft guidelines for the OFIs on its
website that the move was to ensure high ethical conducts and provide
minimum acceptable governance standards.
It has also resolved to engage stakeholders on the guidelines before it is fully approved.
THIS DAY
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