CBN Orders Financial Institutions To Display Business Names Online, Others

    The Central Bank of Nigeria has issued a directive to all licensed financial institutions to display their corporate names conspicuously on all their websites, portals, and online applications. This directive was made public on the apex bank’s website on December 7 2023. The CBN’s directive is aimed at engendering trust and confidence in the use of such products and services. The apex bank noted that the lack of corporate names on transaction websites/portals or online applications can lead to a negative perception of the products or services, mislead consumers, and difficulty in seeking redress when the need arises.

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