New guidelines set higher compliance standards for financial institutions nationwide.
The Nigerian Bar Association (NBA) has held a special engagement session with Managing Directors and Chief Executive Officers of deposit money banks to review the Central Bank of Nigeria’s revised Corporate Governance Guidelines, which came into effect earlier this year.
The session, organised by the NBA Section on Business Law (NBA-SBL), brought industry leaders together to discuss key compliance measures, legal implications, and operational adjustments required under the new regulatory framework.
According to the NBA-SBL, the meeting was necessary to help banks better navigate the updated rules, which include strengthened board oversight requirements, enhanced risk-management expectations, and stricter disclosure obligations.
Legal experts at the event emphasised that the revised guidelines are designed to foster transparency, ethical leadership, and stronger corporate governance across the Nigerian financial sector.
They also highlighted the need for banks to prioritise governance structures that reduce systemic risks and improve customer confidence.
Stakeholders described the session as timely, given the CBN’s renewed focus on corporate accountability within the banking industry.
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