Post by Arise News (@arisenews)

The Central Bank of Nigeria (CBN) has unveiled draft guidelines aimed at creating stronger operational, governance and financial separation among banks, fintechs and other closely linked financial institutions to reduce systemic risks and protect consumers. The proposed framework seeks to prevent distress in one entity from spreading across an entire financial group by introducing stricter rules on board memberships, personnel sharing, intra-group funding, customer data management and technology infrastructure. It also requires independent capital and liquidity compliance, explicit customer consent for transfers between affiliated entities, and recovery plans for periods of financial stress. According to the CBN, the reforms will curb regulatory arbitrage, improve transparency and accountability, enhance consumer protection, and support a safer, more resilient financial system while encouraging innovation and competition. Stakeholders have until July 9, 2026, to submit feedback.

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