The Central Bank of Nigeria released draft guidelines for the Regulations of Financial Holding Companies in Nigeria. The 23 page documents contains guidelines ranging from minimum paid up capital to corporate governance, what they can invest in, limit to income sources, when they can share dividends, limit of investment in fixed assets etc.
It’s a sweeping range of regulation that under normal circumstances should deter organizations that have no compelling reason for holding on to non-core banking subsidiaries. It may also be considered anti business as it places huge restrictions for dynamism and pivoting in a sector constantly in need of change and adaptation to modern competition. You can read the regulations below or simply download it.
