The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has announced the establishment of a new Compliance Department within the apex bank, set to become operational by the end of February.
Cardoso disclosed this today during his keynote address at the launch of the 2025 macroeconomic outlook by the Nigerian Economic
Summit Group.
He stated that transformative step of setting up a Compliance Department is with the objective of addressing past challenges, aligning with global standards, building a more transparent and resilient financial sector that can drive Nigeria’s economic growth and development.
Cardoso who advised stakeholders to stay tuned added that the department will be inward-facing and outward-facing as well and be functional by the end of February,
