How to use this library
- TL;DR — one sentence: what the regulation requires.
- The regulation in brief — a refresher on the rule itself.
- How FinovaMax handles it — the controls and workflows that satisfy it.
- Practical implication — what it means for day-to-day operations.
- Citation source — where to verify in the primary regulation.
- Related entries — the rules that connect to this one.
BOFIA 2020 §19 — Insider Lending Restrictions
Statutory limits and disclosure on lending to directors, officers, and significant shareholders.
2IFRS 9 — Expected Credit Loss (ECL)
The forward-looking, three-stage model that governs how loan provisions are computed.
3NDPR / NDPA — Data Subject Rights & Breach Notification
Statutory data-subject rights, DPO appointment, and the 72-hour NDPC breach deadline.
4NFIU CTR / STR Reporting
Cash and suspicious transaction reporting to the NFIU via goAML — accurate and on time.
5NIBSS Reconciliation
Daily reconciliation of interbank NIP transactions to prevent disputes and leakage.
6CBN KYC Tiering
The three-tier KYC framework that unlocks account functionality by verification depth.
7CBN Data Localisation — Effective 1 January 2027
Payment transaction data must be stored and managed within Nigeria from 1 Jan 2027.
8AML/CFT Compliance — The Operating Standard
Risk profiling, sanctions screening, transaction monitoring, and structured reporting.
9Single Obligor Limit (SOL)
The cap on total credit exposure to any one borrower and their related entities.
10Audit-Log Evidentiary Standards
Tamper-evident, traceable, ten-year audit logs that make every other claim defensible.
What's not in this library yet — by design
This first release covers the ten regulations most-cited by Nigerian MFBs, finance companies, and cooperatives evaluating core banking software. Planned for future expansion:
- CRMS credit-reporting integration
- FCCPC consumer-complaints framework
- NDIC SCV and deposit-reporting workflow
- FIRS TaxProMax integration (VAT, WHT, CIT, PAYE)
- Capital Adequacy and Liquidity Ratio monitoring
- CBN Examination Readiness scoring framework
- Green Finance certification (PCAF / IFC / Climate Bonds)
Take a single regulation deeper
We'll walk through your institution's specific exposure and how the platform responds.
Apex Grid Technologies Ltd · RC 9108833 · Lagos & Abuja, Nigeria