Nigeria: Draft guidelines for shared services arrangements for banks
The Central Bank of Nigeria has issued draft guidelines on the initiation, evaluation and pricing of shared services by banks and financial institutions.
According to the regulator, the absence of standards on shared services and transfer pricing arrangements have resulted in uneven management of shared services in the banking industry. The draft guidelines aim to address this imbalance.
Stakeholders are to submit comments on the draft by December 6, 2019.