SATURDAY 25TH FEBRUARY 2023

Page 1

CBN Reviews Tenure Limits of Banks’ Management, Executives Cumulative tenure limits of EDs/DMDs/MDs and NEDs across the banking industry now 20 years Obinna Chima The Central Bank of Nigeria (CBN) has revised the regulatory requirements for the tenure of Executive Management

and Non-executive Directors (NEDs) of deposit money banks (DMB) and financial holding companies (HoldCos). The apex bank, which disclosed this in a circular to all

banks dated February 24, 2023, titled: “Re: Review of Tenure of Executive Management and Non-Executive Directors of Deposit Money Banks in Nigeria,” obtained yesterday,

explained that the regulation was in line with the Code of Corporate for Banks and Discount Houses (Ref: FPR/ DIR/CIR/GEN/01/004). The letter was signed by the

Director, Financial Policy and Regulation Department, CBN, Mr. Chibuzo Efobi. According to the CBN, the tenure of Executive Directors (EDs), Deputy Managing

Directors (DMDs) and Managing Directors (MDs), shall be in accordance with the terms of their engagement approved Continued on page 5

European Union Election Observation Mission Condemns Pre-Election Violence... Page 14 Saturday 25 February, 2023 Vol 28. No 10141

www.thisdaylive.com TR

UT H

& RE A S O

N250

N

UK Considering Barring Spouses, Children of International Students... Page 18

Nigeria’s Moment of Truth Atiku, Tinubu, Obi, Kwankwaso Clash in Historic Poll

Atiku

Tinubu

Obi

Kwankwaso

<RXU IXWXUH VKDSH LW \RXU ZD\ $FFHVV 3HQVLRQV )XWXUH 6KDSLQJ

ZZZ DFFHVVSHQVLRQV QJ


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.