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Dear Esteemed Client,
The Central Bank of Nigeria ('CBN'), the Nigerian Immigration Service ('NIS'), and the Federal Ministry of Finance ('FedFIn') issued a series of Press Releases, Circulars, Directives, and Guidelines in November 2025, containing information and directives for the Financial Services, Immigration, Public and Private Partnerships, and the general public. We hope that you find the information useful in your operations.
CBN ISSUES CIRCULAR ON ADVERTISEMENT AND IMMEDIATE WITHDRAWAL OF NONCOMPLIANT ADVERTISEMENTS FOR BANKS, PAYMENT SERVICE BANKS AND OTHER FINANCIAL INSTITUTIONS
The CBN issued a circular directing all financial institutions to immediately withdraw noncompliant advertisements following a thematic review that revealed inconsistencies in disclosure practices. Under the new regime, all advertisements must now be factual, balanced, and transparent, avoiding the omission of material information or the exaggeration of benefits. This is to crack down on promotional practices that are misleading, comparative, superlative, or constitute inducements. Financial institutions must submit a compliance attestation co-signed by their Chief Executive Officer, Executive Compliance Officer and Chief Compliance Officer within 30 days of issuance of the Circular, as the CBN plans a follow-up review and sanctions by January 2026.
For more information, please refer here:
CBN ISSUES CIRCULAR ON THE TREATMENT OF DUD CHEQUES BY BANKS AND OTHER FINANCIAL INSTITUTIONS
The CBN issued an Exposure Draft of Guidelines on the Treatment of Dud Cheques to banks and other financial institutions. The Guidelines aims to enhance clarity and offer further guidance to banks and other financial institutions on the handling of dud cheques, regulatory requirements for reporting and barring their issuers, the process for updating and unbarring issuers of dud cheques and the associated penalties for non-compliance. Stakeholders are expected to send their comments and reservations on the draft Guidelines to the CBN within three weeks of issuance of the Guidelines for the CBN's consideration.
For more information, please refer here:
NIS TO INTRODUCE SINGLE TRAVEL EMERGENCY PASSPORT
The NIS announced plans to introduce a Single Travel Emergency Passport ('STEP') as part of its broader reforms to strengthen identity management and border governance in line with global standards. The STEP will function as a onetime, single-entry travel document for Nigerians abroad whose passports have expired, been lost, or stolen, enabling safe and secure return to Nigeria. It will be issued exclusively through designated Nigerian embassies and consulates. This development underscores the NIS commitment to enhancing migrant safety and improving the reliability of emergency travel processes for Nigerians in the diaspora.
For more information, please refer here
NIS LAUNCHES THE ECONOMIC COMMUNITY OF WEST AFRICAN STATES ('ECOWAS') NATIONAL BIOMETRIC IDENTITY CARD (ENBIC)
The NIS, in conjunction with the Federal Ministry of Interior, launched the ECOWAS National Biometric Identity Card ('ENBIC'), replacing the old manual travel certificate and introducing a more secure, biometric-based regional identity document. The ENBIC is designed to enhance mobility, trade, tourism, and security across West Africa, aligning Nigeria with ECOWAS' harmonised identity framework. The rollout has been described as a major step in strengthening regional integration, advancing digital governance, and reinforcing secure and orderly migration. Stakeholders, including ECOWAS Member States, diplomatic missions, development partners, and security agencies, expressed support for the nationwide implementation as the NIS continues its drive to improve identity security and migration management in line with international standards.
For more information, please refer here:
NIS LAUNCHES ANTI-SMUGGLING CAMPAIGN
The NIS launched a Nationwide Anti-Smuggling of Migrants (SOM) Campaign to curb irregular migration. The initiative aims to enhance public awareness regarding the dangers of SOM and to promote safe, orderly migration practices across the country. The campaign will involve community sensitisation, media advocacy, and stakeholder engagements that are designed to educate citizens on identifying, reporting, and preventing SOM and related transnational crimes. This concerted effort is designed to strengthen border governance and foster community cooperation in line with national security objectives.
For more information, please refer here:
FG DRIVES ECONOMIC GROWTH AS IT INAUGURATES MINISTERIAL PROJECT APPROVAL BOARD ('MPAB') AND ELRA PARTNERSHIP
The Federal Ministry of Finance inaugurated the Ministerial Project Approval Board ('MPAB') to fast-track responsible private-sector investments under the Ministry. Immediately, the MPAB advanced a landmark public-private partnership with the Equipment Leasing Registration Authority ('ELRA') aimed at digitising Nigeria's leasing industry. This initiative seeks to modernise regulatory processes, strengthen market transparency, and crucially, expand access to equipment finance for SMEs. The Minister stressed that the MPAB will uphold rigorous standards for all PPPs to ensure accountability and sustainable economic development, aligning with the administration's focus on stimulating investment and job creation.
For more information, please refer here:
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