CBN Directs Banks to Announce CEO Three Months Before Exit of Outgoing One

The Central Bank of Nigeria (CBN) has issued a new directive mandating all Domestic Systemically Important Banks (DSIBs) to publicly announce the appointment of a new Managing Director/Chief Executive Officer (MD/CEO) at least three months before the scheduled exit of the incumbent. In addition, banks are required to obtain regulatory approval for the successor’s appointment

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