CBN Orders Banks to Withdraw Misleading Adverts, Issues New Compliance Rules

The Central Bank of Nigeria (CBN) has instructed all banks, payment service banks and other regulated financial institutions to immediately halt any advertisement or promotional campaign that violates transparency or consumer-protection rules. The directive, contained in a circular released on Thursday and signed by Olubunmi Ayodele-Oni of the CBN’s Compliance Department, followed a sweeping industry […]