Nigeria: Finance and Banking

The Central Bank of Nigeria has issued new guidance clarifying that suspensions of payment obligations and termination rights under financial contracts involving Nigerian banks will not exceed two business days. This interpretative circular addresses a critical gap in the Banks and Other Financial Institutions Act, 2020, providing certainty for counterparties trading derivatives, repos, and other financial instruments with CBN-regulated institutions.

Nigeria's Central Bank has released an exposure draft proposing sweeping changes to how financial holding companies must be structured, capitalised, and governed. The revised framework introduces stricter ownership requirements, enhanced capital thresholds that could exceed current levels by 20%, and significant restrictions on intra-group transactions and shared services. These proposed regulations could fundamentally reshape the operational landscape for banking groups and financial conglomerates operatin

On 10 June 2026, the Central Bank of Nigeria ("CBN") released an Exposure Draft of the Revised Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria (the "Guidelines"). The proposed Guidelines are aimed at strengthening the regulatory framework governing Financial Holding Companies ("FHCs"), addressing governance and operational issues that have emerged under the current regime, and promoting greater consistency in the supervision of banking groups and financial conglomerates.

The age-old legal maxim: interesse rei publicae ut sit finis litium, meaning “it is in the public interest that there be an end to litigation,” does not always reflect the post-judgment reality in Nigeria.

The age of automated decision-making ("ADM") has arrived in Nigeria. Banks and fintech platforms deploy credit-scoring models to determine lending outcomes, and public institutions increasingly rely on data-driven systems in the exercise of statutory functions.

A loan officer approves a facility for a long-standing customer, a trusted SME owner known for never defaulting. The business seems healthy, projections are strong, and the numbers look promising.

Nigerian banks have long prioritized land as collateral for lending, but this orthodoxy increasingly fails to serve businesses whose real value lies in receivables, inventory, and working capital cycles. As manufacturing, distribution, and logistics companies drive economic activity without substantial land holdings, the financial sector's rigid collateral requirements may be stifling growth in the very enterprises that power Nigeria's economy.

A ship mortgage is one of the principal instruments through which vessels are financed in international and domestic trade.

Land or property acquisition through mortgages in Nigeria is an attractive option for individuals who prefer to spread payments for the property over time rather than pay the full price up front. A mortgage is a long-term loan secured for the purpose of acquiring land or property. It is a legal arrangement where the property serves as the collateral for the loan, with the lender having the right to enforce or sell the property if the borrower defaults in repaying the loan over the agreed period(s).

On 16 May 2026, the Central Bank of Nigeria launched the 2026 FX Manual, marking the first comprehensive review of Nigeria's foreign exchange regulatory framework in nearly a decade.

Nigeria's Nollywood has emerged as the world's second-largest film industry by volume, yet financing remains a critical bottleneck for filmmakers who rely primarily on personal savings and informal investors.

This document provides a comprehensive overview of regulatory guidelines, letters, circulars, and notifications issued by Nigerian financial authorities during June 2026. The compilation offers legal and financial professionals insights into the latest regulatory developments affecting banking, finance, and related sectors in Nigeria.