Nigeria, June 12 -- The Central Bank of Nigeria (CBN) has proposed a regulatory framework seeking to ring-fence the operations of closely linked financial entities in Nigeria to promote a stable financial system.

The drafted guidelines will ensure a safe, sound and stable financial system, the apex bank said in a circular on Thursday.

It added that the guidelines will also safeguard consumer interests and strengthen regulatory oversight in Nigeria's financial system.

The guidelines seek to establish clear operational and functional boundaries among closely linked entities in the financial system.

It will also focus on addressing regulatory arbitrage arising from the commingling of activities across different licence categories.

The g...