Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/06/002

Title: Circular to Banks and Other Financial Institutions

Summary: The circular requests that financial institutions review the restrictions and limits on Tier I and II accounts in compliance with the CBN AML CFT Regulations. The CBN has increased the current transaction limits for Tier I and II accounts in order to promote financial inclusion. Regulation 77 of the CBN AML CFT Regulations 2013 must still be followed in identifying and verifying Tier II customers.

Posted on: Monday, July 04, 2016

Download: FPR/DIR/CIR/GEN/06/002