The Central Bank of Nigeria (CBN) has announced plans to revise the regulations governing financial holding companies, citing the need for an update after nearly a decade of the current framework established in 2014. This revision aims to address the risks associated with non-core banking activities conducted within banking groups. The CBN's initiative reflects its commitment to ensuring a robust regulatory environment that safeguards the financial system. Further details on the specific changes to be implemented have yet to be disclosed.
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