Nigeria: Prospective Bank MDs to Face CBN Interview

12 April 2010

Lagos — Henceforth, the Central Bank of Nigeria (CBN) will conduct interviews for the prospective bank managing directors, executives and non-executives - including those desirous of holding directorship positions in financial services holding companies - to verify their suitability for the respective positions.

Under the new banking regime that seeks to scrap universal banking, shareholders will be encouraged to set up holding companies under which the commercial banks and other non-banking subsidiaries such as investment banking units, securities trading firms, asset management companies, mortgage banks and insurance companies, will operate.

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