Central Banking

CBN rules out virtual banks in Nigeria

In its Draft Guidelines on Electronic Banking, the central bank of Nigeria has said that all banks in Nigeria must not only be fully licensed, they must also have a physical presence in Nigeria, adding that "virtual banks or banks that exist only in cyberspace are not allowed."

Source: This Day Online

The Central Bank of Nigeria (CBN) has said that only banks which are licensed, supervised and with physical presence in Nigeria are permitted to offer electronic and or Internet banking services i

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: