Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/01/004

Title: Guidelines for Shared Services Arrangements

Summary: The Central Bank of Nigeria has issued guidelines for shared services arrangements in the banking industry to address concerns related to governance, financial management, and tax practices. These guidelines aim to streamline the activities of institutions engaged in shared services and transfer pricing, as well as prevent the abuse of shared services arrangements as a tax shield. Compliance with these guidelines is required by June 1, 2022.

Posted on: Wednesday, May 26, 2021

Download: FPR/DIR/PUB/CIR/01/004