The Central Bank of Nigeria (CBN) on Thursday released an exposure draft guidelines on shared services arrangement for deposit money banks and Other Financial Institutions (OFIs).
The objectives of the guideline include to set out supervisory expectation in respect of shared services arrangements between a parent company and its subsidiary; and to ensure that fees received or paid are a reflection of the services rendered, taking into accounts the assets used and risks assumed, amongst other objectives.
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Nigerian banks with foreign parents and banks within the non-operating financial holding company (HoldCo) participate in centralised or shared services arrangements with their parent companies and other entities in the group.
The main drivers for sharing of services among group entities are the need to ensure cost efficiencies, leverage existing expertise, and maintain consistency throughout the group.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
